L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $199.56 and last traded at $201.55, with a volume of 668161 shares changing hands. The stock had previously closed at $206.75.
Wall Street Analyst Weigh In
LHX has been the subject of several recent research reports. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Morgan Stanley decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Finally, Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.67.
Get Our Latest Research Report on L3Harris Technologies
L3Harris Technologies Stock Performance
The company has a 50-day simple moving average of $213.30 and a two-hundred day simple moving average of $230.16. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $37.56 billion, a PE ratio of 25.16, a PEG ratio of 1.75 and a beta of 0.76.
L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share 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 7.04%. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Ross Niebergall sold 1,764 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company's stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.82% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. KCM Investment Advisors LLC lifted its position in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock valued at $4,584,000 after buying an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at $841,000. Czech National Bank lifted its position in shares of L3Harris Technologies by 6.4% during the 4th quarter. Czech National Bank now owns 41,124 shares of the company's stock valued at $8,648,000 after buying an additional 2,480 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after purchasing an additional 4,321 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.
L3Harris Technologies Company Profile
(
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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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