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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $262.67.

A number of research analysts have recently commented on the company. Bank of America dropped their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Finally, Truist Financial dropped their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st.

L3Harris Technologies Stock Down 0.4 %

LHX stock opened at $199.79 on Friday. The stock’s fifty day simple moving average is $214.80 and its two-hundred day simple moving average is $230.55. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies has a 1-year low of $198.43 and a 1-year high of $265.74. The stock has a market cap of $37.89 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.75 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts expect that L3Harris Technologies will post 11.19 EPS for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,901 shares of company stock worth $1,059,757 in the last ninety days. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Geode Capital Management LLC increased its position in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after purchasing an additional 53,787 shares during the last quarter. FMR LLC increased its position in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after purchasing an additional 233,968 shares during the last quarter. Invesco Ltd. increased its position in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the last quarter. 84.76% of the stock is currently owned by 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.