UBS Group Increases L3Harris Technologies (NYSE:LHX) Price Target to $237.00

L3Harris Technologies (NYSE:LHX) had its price target increased by equities researchers at UBS Group from $228.00 to $237.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 11.80% from the company’s current price.

LHX has been the topic of several other research reports. Bank of America upgraded 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. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.87.

L3Harris Technologies Stock Down 0.0 %

Shares of NYSE:LHX opened at $211.99 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $220.51 and a two-hundred day simple moving average of $232.27. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. On average, research analysts anticipate that L3Harris Technologies will post 13.07 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LHX. Atlas Legacy Advisors LLC bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $205,000. Klingman & Associates LLC increased its stake in shares of L3Harris Technologies by 2.8% in the fourth quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after purchasing an additional 53 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of L3Harris Technologies by 764.6% during the 4th quarter. Venturi Wealth Management LLC now owns 4,254 shares of the company’s stock valued at $895,000 after purchasing an additional 3,762 shares during the period. Empower Advisory Group LLC lifted its stake in shares of L3Harris Technologies by 2.4% during the 4th quarter. Empower Advisory Group LLC now owns 370,315 shares of the company’s stock valued at $77,870,000 after buying an additional 8,840 shares in the last quarter. Finally, Wealth Quarterback LLC boosted its holdings in L3Harris Technologies by 4.2% in the 4th quarter. Wealth Quarterback LLC now owns 2,078 shares of the company’s stock worth $437,000 after buying an additional 84 shares during the period. 84.76% of the stock is owned by hedge funds and other 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.