L3Harris Technologies’ (LHX) Sector Perform Rating Reaffirmed at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a report issued on Friday,Benzinga reports. They presently have a $240.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.38% from the stock’s current price.

Several other equities analysts also recently weighed in on LHX. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Four 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 presently has an average rating of “Moderate Buy” and an average target price of $268.64.

L3Harris Technologies Trading Down 0.2 %

Shares of L3Harris Technologies stock traded down $0.38 during trading on Friday, hitting $211.68. The company’s stock had a trading volume of 507,399 shares, compared to its average volume of 1,214,957. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a 50-day moving average price of $221.23 and a two-hundred day moving average price of $232.43. The stock has a market cap of $40.15 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. Equities research analysts anticipate that L3Harris Technologies will post 13.07 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in L3Harris Technologies by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 64,747 shares of the company’s stock worth $14,541,000 after buying an additional 1,217 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of L3Harris Technologies during the second quarter valued at approximately $5,770,000. Czech National Bank lifted its position in shares of L3Harris Technologies by 6.9% in the third quarter. Czech National Bank now owns 38,644 shares of the company’s stock valued at $9,192,000 after acquiring an additional 2,499 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of L3Harris Technologies by 3.3% in the third quarter. Park Avenue Securities LLC now owns 5,526 shares of the company’s stock worth $1,314,000 after acquiring an additional 176 shares during the last quarter. Finally, Cullen Investment Group LTD. raised its stake in L3Harris Technologies by 3.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 7,796 shares of the company’s stock valued at $1,855,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.