L3Harris Technologies (NYSE:LHX) PT Raised to $245.00 at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its price objective upped by research analysts at Wells Fargo & Company from $238.00 to $245.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.49% from the stock’s current price.

LHX has been the topic of several other research reports. Royal Bank of Canada boosted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Barclays lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, UBS Group increased their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $215.88 on Tuesday. The firm has a fifty day moving average price of $210.32 and a two-hundred day moving average price of $203.41. The company has a market cap of $40.95 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The firm 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 company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.86 EPS. Analysts expect that L3Harris Technologies will post 12.91 EPS for the current year.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the sale, the insider now owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock valued at $10,261,360 over the last three months. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds have recently modified their holdings of LHX. Vanguard Group Inc. increased its holdings in shares of L3Harris Technologies by 15.4% during the fourth quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares during the period. Capital World Investors lifted its position in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after acquiring an additional 3,308,506 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of L3Harris Technologies by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after purchasing an additional 40,448 shares during the period. Wells Fargo & Company MN lifted its position in L3Harris Technologies by 2.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after purchasing an additional 101,708 shares during the period. Finally, Wellington Management Group LLP increased its holdings in L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 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.