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

L3Harris Technologies (NYSE:LHX) had its price target cut by Bank of America from $300.00 to $265.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.07.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $210.85 on Tuesday. The stock has a 50-day simple moving average of $219.96 and a 200 day simple moving average of $232.00. The stock has a market capitalization of $39.99 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.74 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. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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 anticipate that L3Harris Technologies will post 13.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 4,901 shares of company stock worth $1,059,757 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LHX. Geode Capital Management LLC increased its position in shares of 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 increased its holdings in L3Harris Technologies by 1.4% during the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in L3Harris Technologies by 5.9% during the 3rd 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 in the last quarter. Raymond James & Associates raised its stake in shares of L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after purchasing an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares in the last quarter. Institutional investors 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.