L3Harris Technologies (NYSE:LHX) Sets New 1-Year Low - What's Next?

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report)'s share price hit a new 52-week low on Tuesday . The company traded as low as $196.42 and last traded at $195.96, with a volume of 484360 shares traded. The stock had previously closed at $197.61.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LHX. Morgan Stanley dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Barclays cut their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, UBS Group lifted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $262.67.

L3Harris Technologies Stock Performance

The company's 50-day moving average is $210.26 and its two-hundred day moving average is $229.06. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $37.50 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company's stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its stake in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after acquiring an additional 111 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.