Susquehanna Raises L3Harris Technologies (NYSE:LHX) Price Target to $270.00

L3Harris Technologies (NYSE:LHX) had its target price upped by analysts at Susquehanna from $260.00 to $270.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 18.56% from the company’s current price.

A number of other equities research analysts have also issued reports on LHX. Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $245.00 to $257.00 in a report on Friday, July 26th. Barclays boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.50.

L3Harris Technologies Stock Up 1.3 %

LHX stock opened at $227.74 on Monday. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $245.60. The firm has a market cap of $43.20 billion, a PE ratio of 36.97, a P/E/G ratio of 1.91 and a beta of 0.72. The firm has a 50 day simple moving average of $226.28 and a 200 day simple moving average of $216.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies will post 12.99 earnings per share for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 109,312 shares of company stock worth $24,712,822 in the last 90 days. 0.82% of the stock is owned by insiders.

Institutional Trading of L3Harris Technologies

Several large investors have recently modified their holdings of LHX. RFG Advisory LLC boosted its holdings in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the period. Optas LLC boosted its holdings in L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the period. Oak Harbor Wealth Partners LLC boosted its holdings in L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after purchasing an additional 49 shares during the period. Whitener Capital Management Inc. boosted its holdings in L3Harris Technologies by 3.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after purchasing an additional 50 shares during the period. Finally, Blossom Wealth Management boosted its holdings in L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after purchasing an additional 51 shares during the period. 84.76% of the stock is owned by institutional investors.

About L3Harris Technologies

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.