L3Harris Technologies (NYSE:LHX) Given New $229.00 Price Target at Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX) had its price objective dropped by investment analysts at Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 9.32% from the stock’s previous close.

LHX has been the subject of a number of other reports. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $267.73.

L3Harris Technologies Price Performance

Shares of LHX traded down $0.81 during mid-day trading on Thursday, hitting $209.47. 74,370 shares of the company were exchanged, compared to its average volume of 902,441. 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 1-year low of $200.18 and a 1-year high of $265.74. The stock has a market cap of $39.73 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72. The company has a 50 day moving average of $236.77 and a 200-day moving average of $234.13.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the business posted $3.19 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts expect that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 over the last quarter. 0.82% of the stock is owned by company insiders.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently made changes to their positions in LHX. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after purchasing an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 1.4% in 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 buying an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of 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 worth $366,875,000 after buying an additional 85,882 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in L3Harris Technologies by 2.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after acquiring an additional 31,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in L3Harris Technologies by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock valued at $315,611,000 after acquiring an additional 156,453 shares in the last quarter. Institutional investors and hedge funds 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.