Susquehanna Has Lowered Expectations for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX) had its price target decreased by equities researchers at Susquehanna from $300.00 to $258.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 24.58% from the company’s current price.

A number of other research analysts have also weighed in on LHX. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $266.31.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $207.09 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74. The firm has a fifty day moving average of $231.88 and a 200-day moving average of $233.36. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that L3Harris Technologies will post 13.09 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’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 owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several large investors have recently modified their holdings of LHX. OneDigital Investment Advisors LLC grew its stake in L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares during the period. Blossom Wealth Management lifted its holdings in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the period. Finally, Archer Investment Corp raised its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. 84.76% of the stock is 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.