Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) PT at $262.67

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $262.67.

LHX has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the period. Millstone Evans Group LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $198.02 on Friday. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The stock has a 50 day simple moving average of $213.30 and a 200-day simple moving average of $230.16. L3Harris Technologies has a 12-month low of $196.67 and a 12-month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share 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%. On average, equities analysts forecast that L3Harris Technologies will post 11.19 EPS for the current year.

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.