L3Harris Technologies (NYSE:LHX) Given New $250.00 Price Target at Morgan Stanley

L3Harris Technologies (NYSE:LHX) had its target price decreased by Morgan Stanley from $260.00 to $250.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company reduced their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $263.07.

L3Harris Technologies Trading Down 0.9 %

L3Harris Technologies stock opened at $210.85 on Tuesday. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market capitalization of $39.99 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76. The firm has a 50 day simple moving average of $219.96 and a 200-day simple moving average of $232.00.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities research analysts expect that L3Harris Technologies will post 13.8 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,901 shares of company stock valued at $1,059,757 in the last quarter. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares in the last quarter. International Assets Investment Management LLC grew its position in L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at $35,904,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in L3Harris Technologies by 156.2% in the third quarter. Rockefeller Capital Management L.P. now owns 148,236 shares of the company’s stock worth $35,259,000 after purchasing an additional 90,370 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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.