Royal Bank of Canada Reaffirms Sector Perform Rating for L3Harris Technologies (NYSE:LHX)

Royal Bank of Canada reiterated their sector perform rating on shares of L3Harris Technologies (NYSE:LHXFree Report) in a research report released on Friday morning,Benzinga reports. They currently have a $240.00 price objective on the stock.

Several other brokerages have also recently weighed in on LHX. Wells Fargo & Company decreased their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Susquehanna reduced their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued 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 $265.87.

View Our Latest Stock Report on L3Harris Technologies

L3Harris Technologies Stock Down 0.0 %

L3Harris Technologies stock opened at $211.99 on Friday. The company’s 50-day moving average price is $220.51 and its two-hundred day moving average price is $232.21. The stock has a market cap of $40.21 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. On average, analysts expect that L3Harris Technologies will post 13.07 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers lifted its stake in shares of L3Harris Technologies by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 64,747 shares of the company’s stock valued at $14,541,000 after purchasing an additional 1,217 shares during the last quarter. Sanctuary Advisors LLC bought a new position in L3Harris Technologies during the second quarter valued at about $5,770,000. Czech National Bank lifted its position in shares of L3Harris Technologies by 6.9% in the third quarter. Czech National Bank now owns 38,644 shares of the company’s stock worth $9,192,000 after buying an additional 2,499 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Park Avenue Securities LLC now owns 5,526 shares of the company’s stock worth $1,314,000 after acquiring an additional 176 shares in the last quarter. Finally, Cullen Investment Group LTD. increased its holdings in shares of L3Harris Technologies by 3.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 7,796 shares of the company’s stock valued at $1,855,000 after acquiring an additional 284 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

(Get Free Report)

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.

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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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