L3Harris Technologies (NYSE:LHX) PT Raised to $245.00 at Barclays

L3Harris Technologies (NYSE:LHX) had its target price upped by equities research analysts at Barclays from $238.00 to $245.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 15.70% from the stock’s current price.

A number of other analysts have also weighed in on LHX. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday. Raymond James boosted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective for the company in a research note on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.33.

L3Harris Technologies Stock Down 1.1 %

Shares of LHX opened at $211.75 on Tuesday. The firm has a market capitalization of $40.16 billion, a P/E ratio of 34.38, a P/E/G ratio of 2.00 and a beta of 0.65. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $218.34. The firm has a fifty day moving average price of $210.26 and a 200-day moving average price of $202.25.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies will post 12.83 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In other news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by insiders.

Institutional Trading of L3Harris Technologies

Large investors have recently made changes to their positions in the company. Capital World Investors grew its holdings in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after buying an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. grew its stake in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after acquiring an additional 2,692,771 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock valued at $464,349,000 after acquiring an additional 2,002,475 shares during the last quarter. Norges Bank purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $325,147,000. Finally, Wellington Management Group LLP boosted its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares during 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.