L3Harris Technologies (NYSE:LHX) Given New $250.00 Price Target at Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $252.00 to $250.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 2.18% from the company’s current price.

Several other equities research analysts also recently issued reports on LHX. Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company lowered their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $246.54.

L3Harris Technologies Price Performance

NYSE LHX opened at $244.66 on Thursday. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $247.33. The stock’s 50-day moving average is $231.34 and its two-hundred day moving average is $223.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market cap of $46.41 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company earned $2.97 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. On average, analysts anticipate that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LHX. Eagle Asset Management Inc. bought a new position in L3Harris Technologies in the 4th quarter worth approximately $224,000. KBC Group NV raised its position in L3Harris Technologies by 15.2% in the 4th quarter. KBC Group NV now owns 17,050 shares of the company’s stock worth $3,591,000 after purchasing an additional 2,248 shares during the last quarter. Tower Research Capital LLC TRC raised its position in L3Harris Technologies by 141.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 23,792 shares of the company’s stock worth $5,011,000 after purchasing an additional 13,945 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in L3Harris Technologies by 3.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 33,691 shares of the company’s stock worth $7,096,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its position in L3Harris Technologies by 18.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 27,258 shares of the company’s stock worth $5,741,000 after purchasing an additional 4,191 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.