Truist Financial Cuts L3Harris Technologies (NYSE:LHX) Price Target to $274.00

L3Harris Technologies (NYSE:LHX) had its price objective trimmed by Truist Financial from $283.00 to $274.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

LHX has been the topic of several other reports. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. 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 $265.87.

L3Harris Technologies Price Performance

LHX stock opened at $211.99 on Friday. 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 has a 1 year low of $200.18 and a 1 year high of $265.74. The firm has a 50-day moving average of $220.51 and a 200 day moving average of $232.21. The company has a market cap 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. On average, sell-side analysts forecast that L3Harris Technologies will post 13.07 EPS for the current year.

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last quarter. Insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently modified their holdings of LHX. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $30,000. Archer Investment Corp boosted its stake in 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 buying an additional 43 shares during the period. Union Bancaire Privee UBP SA bought a new position in L3Harris Technologies during the fourth quarter valued at $33,000. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the third quarter valued at $36,000. Finally, New Millennium Group LLC lifted its holdings in shares of L3Harris Technologies by 776.2% in the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.