Alembic Global Advisors Upgrades L3Harris Technologies (NYSE:LHX) to Overweight

L3Harris Technologies (NYSE:LHX) was upgraded by equities researchers at Alembic Global Advisors from a “neutral” rating to an “overweight” rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has a $238.00 target price on the stock. Alembic Global Advisors’ price objective suggests a potential upside of 15.84% from the stock’s previous close.

A number of other research firms also recently weighed in on LHX. Wells Fargo & Company dropped their target price on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Royal Bank of Canada upped their price objective on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a report on Thursday, January 11th. Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Raymond James upped their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.60.

L3Harris Technologies Trading Up 1.7 %

LHX stock opened at $205.45 on Monday. The company has a market cap of $39.06 billion, a P/E ratio of 31.90, a PEG ratio of 1.91 and a beta of 0.65. L3Harris Technologies has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $210.30 and a 200-day moving average of $200.31.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.27 earnings per share. As a group, equities research analysts expect that L3Harris Technologies will post 12.73 EPS for the current year.

Insider Transactions at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last three months. Company insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Bay Advisors LLC bought a new stake in L3Harris Technologies during the second quarter worth about $30,000. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in L3Harris Technologies in the first quarter valued at approximately $27,000. First Capital Advisors Group LLC. bought a new stake in L3Harris Technologies in the second quarter valued at approximately $29,000. Finally, KB Financial Partners LLC raised its stake in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the period. 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.