L3Harris Technologies (NYSE:LHX) Rating Lowered to Market Perform at Raymond James

L3Harris Technologies (NYSE:LHX) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, Marketbeat reports.

LHX has been the subject of a number of other reports. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.73.

L3Harris Technologies Stock Performance

LHX stock opened at $209.75 on Thursday. L3Harris Technologies has a 1 year low of $200.18 and a 1 year high of $265.74. The stock has a market capitalization of $39.78 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 1.86 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock’s fifty day moving average is $236.03 and its two-hundred day moving average is $233.94.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company earned $3.19 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies will post 13.09 EPS for the current year.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 7,889 shares of company stock valued at $1,800,572 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp grew 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 valued at $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies during the third quarter valued at $36,000. Ashton Thomas Private Wealth LLC purchased a new stake in L3Harris Technologies in the 2nd quarter worth about $57,000. Finally, Ashton Thomas Securities LLC acquired a new stake in L3Harris Technologies during the 3rd quarter worth about $64,000. Hedge funds and other 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.