L3Harris Technologies, Inc. (NYSE:LHX) Receives $266.19 Average Price Target from Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $266.19.

Several equities research analysts have recently issued reports on LHX shares. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last 90 days. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of large investors have recently added to or reduced their stakes in the company. Archer Investment Corp raised its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in L3Harris Technologies in the fourth quarter worth $33,000. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies during the third quarter worth $36,000. New Millennium Group LLC lifted its holdings in shares of L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock worth $41,000 after purchasing an additional 86 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.5 %

Shares of LHX stock opened at $218.64 on Monday. The company has a market cap of $41.47 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. L3Harris Technologies has a 1 year low of $200.18 and a 1 year high of $265.74. The stock’s 50 day simple moving average is $223.62 and its two-hundred day simple moving average is $232.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 EPS. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict that L3Harris Technologies will post 13.07 earnings per share for the current year.

About L3Harris Technologies

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.