L3Harris Technologies (NYSE:LHX) PT Raised to $291.00 at Citigroup

L3Harris Technologies (NYSE:LHX) had its price target hoisted by equities researchers at Citigroup from $268.00 to $291.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 18.27% from the stock’s previous close.

Several other brokerages have also recently weighed in on LHX. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wolfe Research raised 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. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.64.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $246.04 on Thursday. The stock has a market cap of $46.68 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies has a 1 year low of $169.55 and a 1 year high of $247.33. The firm has a 50-day moving average of $233.12 and a two-hundred day moving average of $224.56.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts forecast that L3Harris Technologies will post 13.06 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s 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 transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,863 shares of company stock worth $5,171,749. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Iams Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 2.2% during the third quarter. Iams Wealth Management LLC now owns 9,098 shares of the company’s stock worth $2,164,000 after purchasing an additional 197 shares during the last quarter. Creative Planning raised its holdings in shares of L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of L3Harris Technologies by 62.6% during the third quarter. Wesbanco Bank Inc. now owns 6,784 shares of the company’s stock worth $1,614,000 after purchasing an additional 2,611 shares during the last quarter. Fiduciary Alliance LLC purchased a new position in shares of L3Harris Technologies during the third quarter worth $472,000. Finally, Novare Capital Management LLC raised its holdings in shares of L3Harris Technologies by 7.1% during the third quarter. Novare Capital Management LLC now owns 43,246 shares of the company’s stock worth $10,287,000 after purchasing an additional 2,868 shares during the last quarter. Hedge funds and other 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.