L3Harris Technologies’ (LHX) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of L3Harris Technologies (NYSE:LHX) in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a $240.00 price target on the stock.

A number of other equities research analysts have also issued reports on the company. 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 note on Thursday, October 10th. Citigroup lifted their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Truist Financial cut their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.87.

L3Harris Technologies Stock Performance

NYSE LHX opened at $211.99 on Friday. The business has a 50 day moving average price of $220.51 and a 200 day moving average price of $232.21. The company has a market capitalization of $40.21 billion, a P/E ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75. L3Harris Technologies has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. Sell-side analysts expect that L3Harris Technologies will post 13.07 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Archer Investment Corp raised its holdings 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 period. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $30,000. Kennebec Savings Bank bought a new position in L3Harris Technologies in the third quarter worth about $36,000. Union Bancaire Privee UBP SA acquired a new position in L3Harris Technologies in the fourth quarter valued at approximately $33,000. Finally, New Millennium Group LLC grew its holdings in shares of L3Harris Technologies by 776.2% during the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Institutional investors 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.