L3Harris Technologies (NYSE:LHX) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Friday, Briefing.com reports. They currently have a $257.00 price target on the stock, up from their prior price target of $245.00. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 5.71% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Barclays boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a report on Monday, April 22nd. Wells Fargo & Company boosted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Royal Bank of Canada upped their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.93.

L3Harris Technologies Stock Performance

Shares of LHX opened at $243.12 on Friday. The stock has a 50-day moving average of $226.09 and a two-hundred day moving average of $215.80. L3Harris Technologies has a one year low of $160.25 and a one year high of $245.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock has a market cap of $46.12 billion, a P/E ratio of 39.47, a P/E/G ratio of 1.97 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.86 EPS. As a group, research analysts predict that L3Harris Technologies will post 12.99 EPS for the current year.

Insider Activity

In other news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the sale, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock worth $24,712,822 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LHX. Bfsg LLC acquired a new position in L3Harris Technologies during the first quarter worth $25,000. Transcendent Capital Group LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $28,000. EntryPoint Capital LLC lifted its stake in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares in the last quarter. Blue Trust Inc. lifted its stake in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in L3Harris Technologies by 80.6% during the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after purchasing an additional 79 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.