L3Harris Technologies (NYSE:LHX) Upgraded at StockNews.com

L3Harris Technologies (NYSE:LHX - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.

Several other brokerages have also recently commented on LHX. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a "positive" rating in a research report on Monday, July 29th. Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an "overweight" rating in a research note on Monday. Wolfe Research raised L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Finally, Truist Financial boosted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $261.50.

L3Harris Technologies Price Performance

Shares of LHX stock traded down $4.77 during trading hours on Monday, hitting $248.04. 1,033,395 shares of the company's stock were exchanged, compared to its average volume of 912,305. L3Harris Technologies has a 52 week low of $172.30 and a 52 week high of $258.89. The stock has a market cap of $47.06 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The stock's 50-day moving average is $237.43 and its 200-day moving average is $227.82.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $3.19 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies will post 13.06 EPS for the current year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company's stock worth $4,857,141,000 after acquiring an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC acquired a new position in L3Harris Technologies in the second quarter valued at about $210,886,000. Envestnet Asset Management Inc. lifted its position in L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company's stock worth $222,186,000 after purchasing an additional 695,582 shares during the period. Bank of New York Mellon Corp grew its stake in L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company's stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company's stock worth $97,532,000 after buying an additional 171,420 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

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.

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