L3Harris Technologies (NYSE:LHX) Given New $269.00 Price Target at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its target price lowered by Wells Fargo & Company from $300.00 to $269.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Truist Financial decreased their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Citigroup decreased their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $261.47.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $206.23 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a fifty day moving average of $209.05 and a 200 day moving average of $228.21. The firm has a market cap of $38.84 billion, a PE ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76. L3Harris Technologies has a one year low of $193.09 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 4,901 shares of company stock worth $1,059,757. Company insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. boosted its stake in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

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.