L3Harris Technologies (NYSE:LHX) Rating Lowered to Hold at StockNews.com

L3Harris Technologies (NYSE:LHXGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other analysts also recently commented on LHX. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $184.00 to $240.00 in a research note on Friday, December 15th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research note on Thursday, January 11th. Finally, Robert W. Baird upgraded shares of L3Harris Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $198.00 to $216.00 in a research report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.29.

Get Our Latest Stock Analysis on L3Harris Technologies

L3Harris Technologies Trading Up 0.2 %

NYSE:LHX opened at $210.75 on Monday. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $219.31. The firm’s fifty day moving average is $203.41 and its 200-day moving average is $188.48. The firm has a market cap of $39.94 billion, a P/E ratio of 32.72, a P/E/G ratio of 4.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the business posted $3.27 EPS. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts expect that L3Harris Technologies will post 12.78 earnings per share for the current year.

Insider Activity

In related news, insider Edward J. Zoiss sold 4,742 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $190.00, for a total transaction of $900,980.00. Following the completion of the transaction, the insider now owns 27,183 shares of the company’s stock, valued at $5,164,770. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cowa LLC purchased a new position in shares of L3Harris Technologies during the first quarter worth about $26,000. Mascoma Wealth Management LLC bought a new stake in L3Harris Technologies during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $27,000. KB Financial Partners LLC increased its holdings in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $29,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

(Get Free Report)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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