L3Harris Technologies (NYSE:LHX) Given “Sector Perform” Rating at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They currently have a $240.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 13.21% from the stock’s current price.

LHX has been the subject of a number of other reports. 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 report on Thursday, October 10th. Susquehanna decreased their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $265.87.

L3Harris Technologies Stock Performance

LHX stock opened at $211.99 on Friday. The firm has a market cap of $40.21 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.75. 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 50-day moving average price of $220.51 and a 200-day moving average price of $232.27. L3Harris Technologies has a 1-year low of $200.18 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. As a group, equities research analysts expect that L3Harris Technologies will post 13.07 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the 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 transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Archer Investment Corp lifted its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the fourth quarter worth $30,000. Kennebec Savings Bank purchased a new stake in L3Harris Technologies during the third quarter valued at about $36,000. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the fourth quarter worth about $33,000. Finally, New Millennium Group LLC boosted its stake in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares in the last quarter. 84.76% of the stock is currently 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.