L3Harris Technologies (NYSE:LHX) Price Target Raised to $245.00

L3Harris Technologies (NYSE:LHX) had its price target boosted by Barclays from $238.00 to $245.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 13.87% from the stock’s current price.

A number of other analysts have also weighed in on LHX. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Finally, Citigroup lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $230.88.

L3Harris Technologies Trading Down 0.9 %

Shares of LHX stock traded down $1.90 on Tuesday, hitting $215.16. 98,374 shares of the company’s stock traded hands, compared to its average volume of 1,116,295. The stock has a market capitalization of $40.90 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 1.99 and a beta of 0.65. The company’s fifty day simple moving average is $210.26 and its 200 day simple moving average is $201.92. L3Harris Technologies has a one year low of $160.25 and a one year high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the firm earned $2.86 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies will post 12.76 EPS for the current year.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strong Tower Advisory Services lifted its stake in shares of L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after buying an additional 49 shares in the last quarter. Oak Harbor Wealth Partners LLC grew its position in shares of L3Harris Technologies by 1.7% during the first quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after purchasing an additional 49 shares in the last quarter. Blossom Wealth Management raised its stake in L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the period. JFS Wealth Advisors LLC lifted its holdings in L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of L3Harris Technologies by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after buying an additional 58 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

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.