Bank of America Lowers L3Harris Technologies (NYSE:LHX) Price Target to $265.00

L3Harris Technologies (NYSE:LHX) had its target price reduced by Bank of America from $300.00 to $265.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on LHX. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a research report on Friday, January 31st. Citigroup boosted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial cut their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Wolfe Research raised shares of 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. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $263.07.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $206.42 on Tuesday. The company has a 50-day moving average of $218.54 and a 200-day moving average of $231.67. The firm has a market cap of $39.15 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies has a twelve month low of $200.18 and a twelve month 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 net margin of 7.04% and a return on equity of 13.11%. Analysts forecast that L3Harris Technologies will post 13.8 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 4,901 shares of company stock valued at $1,059,757 in the last three months. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in LHX. Park Avenue Securities LLC raised its holdings in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Park Avenue Securities LLC now owns 5,526 shares of the company’s stock valued at $1,314,000 after purchasing an additional 176 shares in the last quarter. Czech National Bank raised its holdings in L3Harris Technologies by 6.9% during the third quarter. Czech National Bank now owns 38,644 shares of the company’s stock valued at $9,192,000 after buying an additional 2,499 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of L3Harris Technologies by 51.0% in the third quarter. GAMMA Investing LLC now owns 2,208 shares of the company’s stock worth $525,000 after buying an additional 746 shares during the last quarter. Mather Group LLC. boosted its stake in shares of L3Harris Technologies by 29.9% during the 3rd quarter. Mather Group LLC. now owns 755 shares of the company’s stock worth $180,000 after acquiring an additional 174 shares in the last quarter. Finally, Atwood & Palmer Inc. increased its holdings in shares of L3Harris Technologies by 6.4% during the 3rd quarter. Atwood & Palmer Inc. now owns 60,616 shares of the company’s stock valued at $14,419,000 after acquiring an additional 3,640 shares during the last quarter. 84.76% of the stock is currently 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.