Susquehanna Issues Pessimistic Forecast for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX) had its price target dropped by investment analysts at Susquehanna from $300.00 to $258.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 26.18% from the company’s current price.

LHX has been the subject of several other research reports. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Royal Bank of Canada boosted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $266.31.

L3Harris Technologies Stock Up 0.7 %

Shares of NYSE:LHX traded up $1.47 during trading on Wednesday, hitting $204.47. The company’s stock had a trading volume of 200,480 shares, compared to its average volume of 953,554. The company has a market capitalization of $38.78 billion, a PE ratio of 32.30, a PEG ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The stock’s 50-day moving average price is $233.46 and its two-hundred day moving average price is $233.73.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $3.19 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that L3Harris Technologies will post 13.09 EPS for the current year.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co raised its position in L3Harris Technologies by 65.2% in the 4th quarter. Diversified Trust Co now owns 1,802 shares of the company’s stock valued at $379,000 after purchasing an additional 711 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at $3,954,000. Fortem Financial Group LLC raised its holdings in shares of L3Harris Technologies by 13.1% in the fourth quarter. Fortem Financial Group LLC now owns 4,002 shares of the company’s stock valued at $842,000 after buying an additional 465 shares during the last quarter. Bard Financial Services Inc. lifted its position in L3Harris Technologies by 6.1% during the 4th quarter. Bard Financial Services Inc. now owns 5,250 shares of the company’s stock worth $1,104,000 after buying an additional 300 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in L3Harris Technologies by 23.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 984 shares of the company’s stock worth $207,000 after acquiring an additional 184 shares during the last quarter. 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.