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

L3Harris Technologies (NYSE:LHX) had its target price dropped by equities researchers at Morgan Stanley from $260.00 to $250.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 19.68% from the stock’s current price.

A number of other brokerages have also issued reports on LHX. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Citigroup increased their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America lowered their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Susquehanna reduced their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $263.07.

L3Harris Technologies Stock Down 0.9 %

Shares of NYSE LHX opened at $208.89 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $219.26 and a 200 day moving average of $231.83. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74. The stock has a market cap of $39.62 billion, a PE ratio of 26.54, a P/E/G ratio of 1.74 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 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%. As a group, sell-side analysts predict that L3Harris Technologies will post 13.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. The trade was a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 in the last ninety days. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC lifted its stake in L3Harris Technologies by 3.3% in the third quarter. Park Avenue Securities LLC now owns 5,526 shares of the company’s stock worth $1,314,000 after acquiring an additional 176 shares during the last quarter. Czech National Bank raised its holdings in shares of L3Harris Technologies by 6.9% in the 3rd quarter. Czech National Bank now owns 38,644 shares of the company’s stock valued at $9,192,000 after purchasing an additional 2,499 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of L3Harris Technologies by 51.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,208 shares of the company’s stock worth $525,000 after purchasing an additional 746 shares during the last quarter. Mather Group LLC. grew its stake in shares of L3Harris Technologies by 29.9% during the third quarter. Mather Group LLC. now owns 755 shares of the company’s stock worth $180,000 after purchasing an additional 174 shares in the last quarter. Finally, Atwood & Palmer Inc. increased its holdings in L3Harris Technologies by 6.4% in the third quarter. Atwood & Palmer Inc. now owns 60,616 shares of the company’s stock valued at $14,419,000 after buying an additional 3,640 shares during 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.