L3Harris Technologies, Inc. (NYSE:LHX) Receives $266.19 Consensus PT from Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $266.19.

A number of analysts have weighed in on the company. Citigroup upped their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently bought and sold shares of LHX. Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $33,000. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Trust Co. of Vermont grew its stake in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in L3Harris Technologies by 84.0% during the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after buying an additional 110 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE LHX opened at $220.02 on Monday. L3Harris Technologies has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $41.73 billion, a P/E ratio of 34.76, a PEG ratio of 1.74 and a beta of 0.75. The company’s 50-day simple moving average is $225.58 and its 200 day simple moving average is $233.04.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data 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. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. As a group, research analysts forecast that L3Harris Technologies will post 13.07 earnings per share for the current fiscal year.

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.