L3Harris Technologies (NYSE:LHX) Upgraded by Sanford C. Bernstein to Outperform Rating

L3Harris Technologies (NYSE:LHX - Get Free Report) was upgraded by Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a report released on Wednesday, Marketbeat.com reports. The firm presently has a $267.00 price objective on the stock, down from their prior price objective of $289.00. Sanford C. Bernstein's price target points to a potential upside of 28.93% from the stock's current price.

Several other equities research analysts have also commented on the company. Citigroup upped their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research upgraded shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Finally, Truist Financial upped their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average target price of $266.31.

L3Harris Technologies Trading Up 2.0 %

L3Harris Technologies stock traded up $4.09 during mid-day trading on Wednesday, hitting $207.09. 1,413,616 shares of the stock were exchanged, compared to its average volume of 1,213,838. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 1.86 and a beta of 0.75. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm's fifty day simple moving average is $232.69 and its two-hundred day simple moving average is $233.54.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 earnings per share. Analysts forecast that L3Harris Technologies will post 13.09 EPS for the current year.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last 90 days. Insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC raised its position in L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock worth $1,883,000 after acquiring an additional 40 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock worth $385,000 after purchasing an additional 42 shares during the last quarter. Blossom Wealth Management raised its holdings in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. lifted its stake in L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Archer Investment Corp grew its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares during the period. 84.76% of the stock is owned by hedge funds and other 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.