Truist Financial Increases L3Harris Technologies (NYSE:LHX) Price Target to $300.00

L3Harris Technologies (NYSE:LHX) had its target price boosted by investment analysts at Truist Financial from $293.00 to $300.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 22.41% from the company’s current price.

Several other analysts have also recently issued reports on LHX. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Susquehanna boosted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Barclays boosted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.50.

L3Harris Technologies Stock Down 1.2 %

Shares of LHX opened at $245.07 on Monday. The stock has a market capitalization of $46.49 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. L3Harris Technologies has a 1 year low of $172.30 and a 1 year high of $258.89. The business’s 50 day simple moving average is $237.74 and its 200-day simple moving average is $228.12. 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 (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 EPS. As a group, equities analysts expect 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, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc grew its position in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares in the last quarter. Family Firm Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth $57,000. Institutional investors own 84.76% of the company’s stock.

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.