L3Harris Technologies (NYSE:LHX) Given New $274.00 Price Target at Truist Financial

L3Harris Technologies (NYSE:LHX) had its price objective lowered by Truist Financial from $283.00 to $274.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $265.87.

L3Harris Technologies Stock Performance

Shares of LHX opened at $211.99 on Friday. The stock has a 50-day moving average price of $220.51 and a 200-day moving average price of $232.27. The company has a market cap of $40.21 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced 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%. As a group, equities analysts forecast that L3Harris Technologies will post 13.07 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the firm’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 completion of the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of L3Harris Technologies by 1.4% during the third 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. Massachusetts Financial Services Co. MA lifted its position in L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Raymond James & Associates boosted its holdings in L3Harris Technologies by 3.0% in the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after purchasing an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its position in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. 84.76% of the stock is owned by hedge funds and other 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.