L3Harris Technologies (NYSE:LHX) Price Target Raised to $353.00 at Truist Financial

Key Points

• Truist Financial has raised its target price for L3Harris Technologies from $302.00 to $353.00, indicating a potential upside of 22.30% from its current price.
• Multiple analysts, including Robert W. Baird and Morgan Stanley, have also adjusted their price targets for L3Harris, with the average consensus price target now at $287.63.
• Recently, CEO Christopher E. Kubasik sold 83,000 shares of the stock at an average price of $279.90, reducing his ownership by 36.31%.

L3Harris Technologies (NYSE:LHX - Get Free Report) had its target price boosted by equities researchers at Truist Financial from $302.00 to $353.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 22.30% from the company's current price.

Several other analysts have also recently commented on LHX. Robert W. Baird boosted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Morgan Stanley boosted their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup boosted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada boosted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $287.63.

L3Harris Technologies Stock Performance

NYSE:LHX traded down $11.37 during trading hours on Wednesday, reaching $288.62. The company had a trading volume of 846,883 shares, compared to its average volume of 1,353,783. The firm's 50 day moving average price is $282.49 and its 200-day moving average price is $254.14. The firm has a market cap of $54.00 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.14 and a beta of 0.76. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same quarter in the previous year, the company earned $3.24 EPS. L3Harris Technologies's revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, analysts forecast that L3Harris Technologies will post 11.12 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LHX. Gold Investment Management Ltd. raised its holdings in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company's stock worth $437,000 after buying an additional 904 shares during the last quarter. BankPlus Trust Department raised its holdings in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company's stock worth $1,468,000 after purchasing an additional 379 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company's stock worth $48,508,000 after purchasing an additional 33,019 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after purchasing an additional 216 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of L3Harris Technologies by 1.6% during the second quarter. US Bancorp DE now owns 344,112 shares of the company's stock worth $86,317,000 after purchasing an additional 5,526 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

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.

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