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

L3Harris Technologies (NYSE:LHX) had its target price reduced by Truist Financial from $283.00 to $274.00 in a research report released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on LHX. Barclays lowered their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Citigroup raised their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Susquehanna reduced their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.87.

L3Harris Technologies Stock Performance

LHX opened at $211.99 on Friday. 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 has a market capitalization of $40.21 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75. The company has a fifty day moving average of $220.51 and a 200 day moving average of $232.27. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. As a group, sell-side analysts forecast that L3Harris Technologies will post 13.07 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LHX. Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% in the 3rd 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. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the third quarter worth $36,000. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth about $33,000. Finally, New Millennium Group LLC lifted its holdings in L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the period. 84.76% of the stock is currently 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.