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

L3Harris Technologies (NYSE:LHX) had its price objective decreased by Citigroup from $291.00 to $285.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 38.00% from the stock’s previous close.

Several other equities research analysts also recently commented on LHX. JPMorgan Chase & Co. dropped their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. UBS Group upped their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Susquehanna dropped their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley decreased their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Trading Down 0.9 %

LHX opened at $206.52 on Monday. The company has a market cap of $39.17 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The company has a fifty day moving average price of $216.27 and a two-hundred day moving average price of $230.92. 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 $200.18 and a 1-year 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, beating 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 predict that L3Harris Technologies will post 11.19 EPS for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 4,901 shares of company stock worth $1,059,757 in the last three months. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors have recently made changes to their positions in the business. Zions Bancorporation N.A. lifted its position in shares of L3Harris Technologies by 47.1% in the fourth quarter. Zions Bancorporation N.A. now owns 3,165 shares of the company’s stock valued at $666,000 after acquiring an additional 1,013 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of L3Harris Technologies by 4.8% during the fourth quarter. TIAA Trust National Association now owns 3,899 shares of the company’s stock valued at $820,000 after purchasing an additional 177 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $42,000. Prudential Financial Inc. raised its stake in L3Harris Technologies by 13.5% in the fourth quarter. Prudential Financial Inc. now owns 601,871 shares of the company’s stock valued at $126,561,000 after buying an additional 71,425 shares during the last quarter. Finally, ICW Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 1.4% during the fourth quarter. ICW Investment Advisors LLC now owns 8,316 shares of the company’s stock valued at $1,749,000 after buying an additional 111 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.