L3Harris Technologies (NYSE:LHX) Price Target Cut to $285.00 by Analysts at Citigroup

L3Harris Technologies (NYSE:LHX) had its price target cut by Citigroup from $291.00 to $285.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company cut 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 note on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

L3Harris Technologies Stock Up 1.1 %

Shares of NYSE:LHX opened at $208.30 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $39.51 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The firm’s 50-day moving average is $216.96 and its two-hundred day moving average is $231.17. L3Harris Technologies has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Analysts predict that L3Harris Technologies will post 11.19 EPS for the current year.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was 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 directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. Archer Investment Corp raised its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $30,000. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the third quarter worth approximately $36,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $33,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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.