L3Harris Technologies (NYSE:LHX) Reaches New 52-Week Low at $193.65

Shares of L3Harris Technologies, Inc. (NYSE:LHXGet Rating) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $193.65 and last traded at $193.94, with a volume of 1731 shares trading hands. The stock had previously closed at $194.65.

Wall Street Analyst Weigh In

LHX has been the topic of a number of analyst reports. Truist Financial boosted their price objective on shares of L3Harris Technologies from $258.00 to $264.00 in a research report on Monday, January 9th. Morgan Stanley upgraded shares of L3Harris Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $263.00 to $278.00 in a research report on Thursday, December 15th. Cowen decreased their price objective on shares of L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, January 12th. Robert W. Baird cut shares of L3Harris Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $290.00 to $241.00 in a research report on Monday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $260.00 to $219.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $263.07.

L3Harris Technologies Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.10 and a quick ratio of 0.87. The firm’s 50 day moving average is $212.90 and its 200 day moving average is $225.25. The firm has a market cap of $36.45 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 5.70 and a beta of 0.73.

L3Harris Technologies (NYSE:LHXGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.44 by ($0.18). L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the firm earned $3.21 EPS. The company’s revenue was up .4% on a year-over-year basis. As a group, analysts anticipate that L3Harris Technologies, Inc. will post 12.86 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Dana A. Mehnert sold 1,985 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $227.25, for a total value of $451,091.25. Following the transaction, the insider now owns 23,830 shares in the company, valued at $5,415,367.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Dana A. Mehnert sold 1,985 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $227.25, for a total value of $451,091.25. Following the transaction, the insider now owns 23,830 shares in the company, valued at $5,415,367.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares in the company, valued at approximately $24,258,633.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,985 shares of company stock worth $6,502,391. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in L3Harris Technologies by 1.8% during the third quarter. Vanguard Group Inc. now owns 17,282,623 shares of the company’s stock valued at $3,591,848,000 after purchasing an additional 302,279 shares during the period. BlackRock Inc. lifted its position in L3Harris Technologies by 15.1% during the third quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock valued at $2,975,043,000 after purchasing an additional 1,875,236 shares during the period. Price T Rowe Associates Inc. MD lifted its position in L3Harris Technologies by 17.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock valued at $2,028,151,000 after purchasing an additional 1,448,364 shares during the period. FMR LLC lifted its position in L3Harris Technologies by 6.4% during the second quarter. FMR LLC now owns 2,214,357 shares of the company’s stock valued at $535,211,000 after purchasing an additional 134,085 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in L3Harris Technologies by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,813,445 shares of the company’s stock valued at $438,309,000 after purchasing an additional 10,947 shares during the period. Institutional investors own 82.18% of the company’s stock.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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