L3Harris Technologies, Inc. (NYSE:LHX) Receives $266.19 Consensus Price Target from Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $266.19.

Several equities analysts have recently commented on the stock. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its holdings in L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after acquiring an additional 40 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the last quarter. Blossom Wealth Management boosted its position in shares of L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after acquiring an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after acquiring an additional 43 shares during the last quarter. Finally, Archer Investment Corp lifted its position in L3Harris Technologies by 48.9% in 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 during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $218.64 on Monday. The firm has a market cap of $41.47 billion, a P/E ratio of 34.54, a PEG ratio of 1.75 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 50 day simple moving average of $224.18 and a two-hundred day simple moving average of $232.86. 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 earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies will post 13.07 earnings per share for the current fiscal year.

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.