L3Harris Technologies (NYSE:LHX) Given New $287.00 Price Target at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX - Get Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $295.00 to $287.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 25.40% from the company's current price.

LHX has been the subject of several other reports. StockNews.com upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Truist Financial boosted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $269.13.

L3Harris Technologies Stock Down 0.8 %

Shares of NYSE:LHX traded down $1.81 during trading on Wednesday, hitting $228.87. The stock had a trading volume of 660,816 shares, compared to its average volume of 908,978. The company has a market capitalization of $43.41 billion, a PE ratio of 36.27, a PEG ratio of 1.96 and a beta of 0.72. 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 moving average is $246.23 and its 200 day moving average is $234.87. L3Harris Technologies has a 12 month low of $198.22 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) 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 return on equity of 13.11% and a net margin of 5.71%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 earnings per share. Analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company's stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

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

About L3Harris Technologies

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.