Truist Financial Lowers L3Harris Technologies (NYSE:LHX) Price Target to $274.00

L3Harris Technologies (NYSE:LHX) had its target price reduced by equities researchers at Truist Financial from $283.00 to $274.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 28.84% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft reduced 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 report on Thursday, January 2nd. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.43.

L3Harris Technologies Stock Up 0.3 %

Shares of L3Harris Technologies stock traded up $0.61 during trading hours on Friday, reaching $212.67. The company’s stock had a trading volume of 302,970 shares, compared to its average volume of 1,205,515. The company has a market capitalization of $40.34 billion, a P/E ratio of 33.59, a P/E/G ratio of 1.69 and a beta of 0.75. The stock’s fifty day simple moving average is $221.23 and its two-hundred day simple moving average is $232.43. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently added to or reduced their stakes in LHX. OneDigital Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares during the period. Blossom Wealth Management grew its holdings in L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after acquiring an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after acquiring an additional 43 shares during the period. Finally, Archer Investment Corp raised its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. 84.76% of the stock is owned by 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.