L3Harris Technologies (NYSE:LHX) Price Target Cut to $265.00 by Analysts at Bank of America

L3Harris Technologies (NYSE:LHX) had its price objective lowered by Bank of America from $300.00 to $265.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

LHX has been the subject of several other reports. Susquehanna decreased their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $263.07.

L3Harris Technologies Trading Down 0.9 %

Shares of NYSE:LHX opened at $210.85 on Tuesday. The company’s 50-day moving average price is $219.96 and its two-hundred day moving average price is $232.00. L3Harris Technologies has a one year low of $200.18 and a one year 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.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that L3Harris Technologies will post 13.8 EPS for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter worth $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth $30,000. Archer Investment Corp raised its stake 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 purchasing an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in L3Harris Technologies during the fourth quarter worth about $33,000. Finally, Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the third quarter worth about $36,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.