UBS Group Forecasts Strong Price Appreciation for L3Harris Technologies (NYSE:LHX) Stock

L3Harris Technologies (NYSE:LHX - Get Free Report) had its price objective upped by stock analysts at UBS Group from $222.00 to $226.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential upside of 3.21% from the company's previous close.

Several other brokerages have also recently issued reports on LHX. Truist Financial dropped their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and raised their price target for the stock from $198.00 to $263.00 in a research note on Friday, April 11th. Citigroup reduced their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

L3Harris Technologies Stock Up 1.3 %

LHX traded up $2.90 during trading on Monday, hitting $218.98. 1,255,958 shares of the company's stock traded hands, compared to its average volume of 1,014,516. The stock has a market capitalization of $41.11 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.42 and a beta of 0.71. The company's 50 day simple moving average is $210.58 and its two-hundred day simple moving average is $221.96. L3Harris Technologies has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same period last year, the firm posted $3.06 earnings per share. L3Harris Technologies's revenue was down 1.5% compared to the same quarter last year. Analysts predict that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Institutional Trading of L3Harris Technologies

Institutional investors have recently bought and sold shares of the stock. Morse Asset Management Inc bought a new position in L3Harris Technologies during the 3rd quarter valued at about $119,000. World Investment Advisors LLC grew its stake in shares of L3Harris Technologies by 220.3% during the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company's stock valued at $7,750,000 after buying an additional 22,407 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of L3Harris Technologies during the third quarter valued at approximately $1,704,000. Synovus Financial Corp raised its holdings in shares of L3Harris Technologies by 17.5% in the third quarter. Synovus Financial Corp now owns 6,734 shares of the company's stock worth $1,602,000 after buying an additional 1,003 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its stake in shares of L3Harris Technologies by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company's stock worth $9,890,000 after acquiring an additional 194 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.