L3Harris Technologies (NYSE:LHX) PT Raised to $265.00

L3Harris Technologies (NYSE:LHX) had its target price hoisted by equities research analysts at Royal Bank of Canada from $240.00 to $265.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.13% from the company’s current price.

Several other research firms have also issued reports on LHX. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $261.50.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $245.07 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $46.49 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. L3Harris Technologies has a twelve month low of $172.30 and a twelve month high of $258.89. The company has a 50-day simple moving average of $237.74 and a two-hundred day simple moving average of $228.12.

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 analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. Analysts forecast that L3Harris Technologies will post 13.06 EPS for the current year.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several large investors have recently modified their holdings of LHX. Intact Investment Management Inc. grew its holdings in L3Harris Technologies by 6.1% during the third quarter. Intact Investment Management Inc. now owns 27,620 shares of the company’s stock valued at $6,570,000 after purchasing an additional 1,600 shares during the period. Citizens National Bank Trust Department grew its stake in shares of L3Harris Technologies by 7.1% during the 3rd quarter. Citizens National Bank Trust Department now owns 5,683 shares of the company’s stock worth $1,352,000 after acquiring an additional 375 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in L3Harris Technologies by 78.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 34,567 shares of the company’s stock worth $8,222,000 after acquiring an additional 15,191 shares during the last quarter. Whitener Capital Management Inc. lifted its holdings in L3Harris Technologies by 18.7% during the third quarter. Whitener Capital Management Inc. now owns 2,035 shares of the company’s stock valued at $484,000 after purchasing an additional 320 shares during the last quarter. Finally, Confluence Wealth Services Inc. lifted its stake in L3Harris Technologies by 1.1% in the 3rd quarter. Confluence Wealth Services Inc. now owns 5,611 shares of the company’s stock worth $1,335,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other 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.