Wall Street Zen Upgrades L3Harris Technologies (NYSE:LHX) to "Buy"

L3Harris Technologies (NYSE:LHX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other analysts also recently issued reports on the stock. Citigroup raised their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Jefferies Financial Group cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Truist Financial raised their price objective on L3Harris Technologies from $260.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price objective for the company from $198.00 to $263.00 in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $259.94.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $0.50 during midday trading on Friday, reaching $259.60. The stock had a trading volume of 954,594 shares, compared to its average volume of 1,159,991. The company has a market capitalization of $48.53 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 2.03 and a beta of 0.75. L3Harris Technologies has a 12-month low of $193.09 and a 12-month high of $265.74. The stock has a 50-day moving average of $242.10 and a 200-day moving average of $221.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 EPS. As a group, research analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies 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 sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently bought and sold shares of LHX. Mitchell & Pahl Private Wealth LLC grew its position in shares of L3Harris Technologies by 18.5% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 3,211 shares of the company's stock valued at $806,000 after purchasing an additional 501 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of L3Harris Technologies by 22.4% in the second quarter. Farther Finance Advisors LLC now owns 2,047 shares of the company's stock valued at $514,000 after purchasing an additional 375 shares during the period. UMB Bank n.a. increased its position in L3Harris Technologies by 14.3% during the second quarter. UMB Bank n.a. now owns 1,825 shares of the company's stock worth $458,000 after purchasing an additional 228 shares during the last quarter. WealthBridge Investment Counsel Inc. raised its stake in L3Harris Technologies by 4.9% during the second quarter. WealthBridge Investment Counsel Inc. now owns 27,298 shares of the company's stock worth $6,847,000 after purchasing an additional 1,270 shares during the period. Finally, OxenFree Capital LLC acquired a new position in L3Harris Technologies in the 2nd quarter valued at about $224,000. Institutional investors and hedge funds 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.