L3Harris Technologies (NYSE:LHX) Sets New 12-Month Low – Should You Sell?

Shares of L3Harris Technologies, Inc. (NYSE:LHX) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $196.42 and last traded at $195.96, with a volume of 484360 shares traded. The stock had previously closed at $197.61.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley lowered their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup decreased their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

L3Harris Technologies Trading Down 1.0 %

The stock has a market cap of $37.09 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $212.67 and its 200 day simple moving average is $229.97.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, research analysts expect that L3Harris Technologies, Inc. will post 11.19 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is owned by insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its stake in L3Harris Technologies by 5.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,622 shares of the company’s stock worth $15,692,000 after purchasing an additional 4,150 shares in the last quarter. Vise Technologies Inc. acquired a new stake in L3Harris Technologies in the 4th quarter worth about $200,000. Novem Group acquired a new stake in L3Harris Technologies in the 4th quarter worth about $404,000. CSS LLC IL acquired a new stake in L3Harris Technologies in the 4th quarter worth about $315,000. Finally, Waverly Advisors LLC raised its stake in L3Harris Technologies by 114.1% in the 4th quarter. Waverly Advisors LLC now owns 8,868 shares of the company’s stock worth $1,865,000 after purchasing an additional 4,726 shares in the last quarter. Institutional investors and hedge funds 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.