L3Harris Technologies (NYSE:LHX) Given New $237.00 Price Target at UBS Group

L3Harris Technologies (NYSE:LHX) had its target price lifted by research analysts at UBS Group from $228.00 to $237.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 11.95% from the stock’s previous close.

LHX has been the topic of a number of other reports. Susquehanna reduced their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Barclays dropped their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.87.

L3Harris Technologies Price Performance

Shares of LHX traded down $0.37 during trading hours on Friday, reaching $211.69. The company had a trading volume of 584,925 shares, compared to its average volume of 1,218,863. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $221.23 and a 200-day simple moving average of $232.43. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a market capitalization of $40.15 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.69 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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 net margin of 5.71% and a return on equity of 13.11%. Research analysts expect that L3Harris Technologies will post 13.07 earnings per share for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 7,889 shares of company stock valued at $1,800,572 over the last 90 days. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in L3Harris Technologies by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after acquiring an additional 59,008 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after purchasing an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Raymond James & Associates grew its holdings in shares of L3Harris Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock worth $234,275,000 after purchasing an additional 28,882 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its holdings in shares of L3Harris Technologies by 25.3% during the third 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. 84.76% of the stock is currently 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.