L3Harris Technologies (NYSE:LHX) PT Lowered to $260.00

L3Harris Technologies (NYSE:LHX) had its price target lowered by stock analysts at Wells Fargo & Company from $262.00 to $260.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.45% from the company’s previous close.

LHX has been the topic of a number of other research reports. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research report on Monday, April 22nd. Barclays boosted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday. Susquehanna boosted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.44.

L3Harris Technologies Trading Down 0.3 %

Shares of LHX stock traded down $0.57 during trading on Wednesday, hitting $227.17. 314,222 shares of the stock traded hands, compared to its average volume of 997,912. The firm has a market capitalization of $43.10 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 1.87 and a beta of 0.72. 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 firm’s fifty day moving average price is $226.28 and its 200-day moving average price is $216.43. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $245.60.

L3Harris Technologies (NYSE:LHX) last released 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 firm 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%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.97 EPS. As a group, research analysts forecast that L3Harris Technologies will post 13.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares of the company’s stock, valued at $3,074,531.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,312 shares of company stock worth $24,712,822. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bfsg LLC purchased a new position in L3Harris Technologies during the first quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $28,000. Blue Trust Inc. boosted its position 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 acquiring an additional 109 shares during the last quarter. EntryPoint Capital LLC boosted its position 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 acquiring an additional 69 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.