Truist Financial Lowers L3Harris Technologies (NYSE:LHX) Price Target to $283.00

L3Harris Technologies (NYSE:LHX) had its price objective dropped by equities researchers at Truist Financial from $300.00 to $283.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 32.22% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.25.

L3Harris Technologies Stock Down 0.4 %

Shares of NYSE LHX opened at $214.03 on Tuesday. L3Harris Technologies has a 52-week low of $200.18 and a 52-week high of $265.74. The firm has a market capitalization of $40.59 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 1.86 and a beta of 0.75. The stock has a 50 day moving average price of $229.70 and a 200 day moving average price of $233.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 EPS. Sell-side analysts expect that L3Harris Technologies will post 13.09 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently bought and sold shares of LHX. Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after acquiring an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of L3Harris Technologies by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock valued at $315,611,000 after buying an additional 156,453 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after buying an additional 28,882 shares during the period. 84.76% of the stock is 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.