L3Harris Technologies (NYSE:LHX) Given New $229.00 Price Target at Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX) had its target price lowered by Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 9.32% from the stock’s current price.

A number of other equities analysts have also recently issued reports on LHX. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada upped their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Finally, Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.73.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded down $0.81 on Thursday, reaching $209.47. The company’s stock had a trading volume of 74,370 shares, compared to its average volume of 902,441. The company has a 50-day simple moving average of $236.77 and a 200 day simple moving average of $234.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market cap of $39.73 billion, a P/E ratio of 33.09, a PEG ratio of 1.86 and a beta of 0.72. L3Harris Technologies has a 52-week low of $200.18 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping 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 quarter in the previous year, the business earned $3.19 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The shares were 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 approximately $1,060,592.94. The trade was a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 7,889 shares of company stock worth $1,800,572 in the last 90 days. Insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. KCM Investment Advisors LLC grew its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after buying an additional 5,868 shares during the period. Fortem Financial Group LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $841,000. Sanctuary Advisors LLC increased its stake in shares of L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock valued at $7,602,000 after purchasing an additional 3,740 shares in the last quarter. Principal Financial Group Inc. raised its holdings in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the period. Finally, Creative Planning boosted its position in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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.