L3Harris Technologies (NYSE:LHX - Get Free Report) had its price target raised by equities research analysts at Citigroup from $300.00 to $323.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 20.04% from the company's current price.
Other analysts also recently issued research reports about the stock. Robert W. Baird boosted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday. Truist Financial upped their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday. Susquehanna upped their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $276.53.
Check Out Our Latest Analysis on LHX
L3Harris Technologies Stock Down 1.5%
Shares of LHX traded down $4.15 during midday trading on Friday, reaching $269.07. The stock had a trading volume of 1,964,387 shares, compared to its average volume of 1,465,934. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $280.03. The company's fifty day simple moving average is $250.37 and its two-hundred day simple moving average is $225.17. The company has a market cap of $50.30 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.10 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85.
L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.24 earnings per share. Equities research analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.
Insider Activity at L3Harris Technologies
In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the sale, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.
Hedge Funds Weigh In On L3Harris Technologies
A number of large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies in the first quarter valued at $26,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies in the 1st quarter worth about $26,000. Beacon Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company's stock worth $30,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
About L3Harris Technologies
(
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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