Royal Bank of Canada Increases L3Harris Technologies (NYSE:LHX) Price Target to $250.00

L3Harris Technologies (NYSE:LHX) had its target price boosted by equities researchers at Royal Bank of Canada from $245.00 to $250.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 16.78% from the company’s previous close.

A number of other brokerages also recently issued reports on LHX. Raymond James upped their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a research note on Thursday, January 11th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $230.88.

L3Harris Technologies Trading Down 1.4 %

Shares of LHX stock opened at $214.07 on Monday. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The company has a 50-day simple moving average of $210.30 and a two-hundred day simple moving average of $202.18. The company has a market capitalization of $40.70 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the prior year, the firm posted $2.86 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Research analysts anticipate that L3Harris Technologies will post 12.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after buying an additional 2,692,771 shares during the last quarter. Capital World Investors grew its holdings in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of L3Harris Technologies by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock valued at $2,018,870,000 after purchasing an additional 40,448 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of L3Harris Technologies by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after purchasing an additional 101,708 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 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.