L3Harris Technologies, Inc. (NYSE:LHX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat reports. Five investment 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 brokerages that have issued ratings on the stock in the last year is $266.19.

Several brokerages recently commented on LHX. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Truist Financial decreased their target price on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $218.22 on Monday. The business’s 50 day moving average price is $227.28 and its 200 day moving average price is $233.03. The firm has a market cap of $41.39 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.68 and a beta of 0.75. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. On average, sell-side analysts expect that L3Harris Technologies will post 13.07 earnings per share for the current year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last quarter. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LHX. Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $36,000. Trust Co. of Vermont lifted its holdings in shares of L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares during the period. MCF Advisors LLC raised its holdings in L3Harris Technologies by 84.0% during the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock worth $51,000 after purchasing an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in L3Harris Technologies during the third quarter worth $64,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

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.