L3Harris Technologies (NYSE:LHX) Price Target Lowered to $269.00 at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its price target lowered by Wells Fargo & Company from $300.00 to $269.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. 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 report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.47.

L3Harris Technologies Trading Down 0.8 %

NYSE:LHX opened at $202.28 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business’s 50-day simple moving average is $209.31 and its 200-day simple moving average is $228.53. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The stock has a market capitalization of $38.09 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Sell-side analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently added to or reduced their stakes in the company. KCM Investment Advisors LLC lifted its position in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $841,000. Czech National Bank increased its stake in shares of L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock valued at $8,648,000 after purchasing an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. raised its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

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.