L3Harris Technologies, Inc. (NYSE:LHX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $262.67.

LHX has been the topic of several research analyst reports. Susquehanna lowered their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Finally, Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $195.55 on Friday. The stock has a market cap of $37.09 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.75 and a beta of 0.76. The firm’s 50-day moving average is $212.67 and its 200 day moving average is $229.97. L3Harris Technologies has a 1 year low of $194.77 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) 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%. Sell-side analysts anticipate that L3Harris Technologies will post 11.19 EPS for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its holdings in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in L3Harris Technologies during the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $27,000. Archer Investment Corp boosted its position in shares of L3Harris Technologies by 48.9% during the 3rd 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. Finally, Roxbury Financial LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $30,000. 84.76% of the stock is 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.