L3Harris Technologies (NYSE:LHX) Price Target Raised to $245.00

L3Harris Technologies (NYSE:LHX) had its target price upped by equities research analysts at Barclays from $238.00 to $245.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 15.70% from the stock’s previous close.

LHX has been the subject of several other reports. Royal Bank of Canada raised their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Finally, Citigroup lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.33.

L3Harris Technologies Trading Down 1.1 %

NYSE:LHX opened at $211.75 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $210.26 and its 200-day simple moving average is $202.25. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $218.34. The firm has a market cap of $40.16 billion, a P/E ratio of 34.38, a PEG ratio of 2.00 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the business earned $2.86 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Equities analysts anticipate that L3Harris Technologies will post 12.83 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In related news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired 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 owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director William H. Swanson purchased 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last 90 days. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of large investors have recently modified their holdings of the company. Palisade Asset Management LLC increased its position in L3Harris Technologies by 0.5% during the 1st quarter. Palisade Asset Management LLC now owns 47,985 shares of the company’s stock worth $10,226,000 after purchasing an additional 219 shares in the last quarter. Schulhoff & Co. Inc. increased its position in shares of L3Harris Technologies by 5.6% in the first quarter. Schulhoff & Co. Inc. now owns 1,637 shares of the company’s stock worth $349,000 after acquiring an additional 87 shares in the last quarter. Peterson Wealth Services increased its position in shares of L3Harris Technologies by 5.8% in the first quarter. Peterson Wealth Services now owns 1,432 shares of the company’s stock worth $305,000 after acquiring an additional 79 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in shares of L3Harris Technologies during the 1st quarter valued at $448,000. Finally, J.W. Cole Advisors Inc. boosted its position in L3Harris Technologies by 6.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 3,829 shares of the company’s stock worth $807,000 after purchasing an additional 230 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.