L3Harris Technologies (NYSE:LHX) Price Target Cut to $250.00

L3Harris Technologies (NYSE:LHX) had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $252.00 to $250.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 2.60% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna lifted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.54.

L3Harris Technologies Stock Up 0.2 %

L3Harris Technologies stock opened at $243.66 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies has a one year low of $160.25 and a one year high of $247.33. The company has a 50-day simple moving average of $231.62 and a 200-day simple moving average of $223.50. The firm has a market capitalization of $46.22 billion, a P/E ratio of 39.56, a P/E/G ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 earnings per share. As a group, equities analysts expect that L3Harris Technologies will post 13.06 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the sale, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,390 shares of company stock worth $7,592,959. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LHX. RFG Advisory LLC raised its holdings in L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares in the last quarter. Optas LLC boosted its position in L3Harris Technologies by 3.3% during the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after purchasing an additional 44 shares during the period. Founders Financial Securities LLC grew its holdings in L3Harris Technologies by 2.8% during the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after purchasing an additional 48 shares during the last quarter. Whitener Capital Management Inc. raised its position in shares of L3Harris Technologies by 3.0% in the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after purchasing an additional 50 shares during the period. Finally, Newman Dignan & Sheerar Inc. lifted its stake in shares of L3Harris Technologies by 0.6% in the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock worth $1,996,000 after buying an additional 55 shares during the last quarter. Institutional investors 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.