L3Harris Technologies (NYSE:LHX) Price Target Cut to $269.00 by Analysts at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its target price reduced by stock analysts at Wells Fargo & Company from $300.00 to $269.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 31.24% from the stock’s current price.

LHX has been the topic of a number of other research reports. Bank of America cut their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Barclays dropped their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial dropped their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.47.

L3Harris Technologies Price Performance

LHX stock opened at $204.97 on Wednesday. The company has a market capitalization of $38.60 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies has a 52-week low of $193.09 and a 52-week high of $265.74. The business has a 50-day simple moving average of $209.20 and a two-hundred day simple moving average of $228.36.

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 return on equity of 13.11% and a net margin of 7.04%. Research analysts expect that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the fourth quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter valued at $27,000. Archer Investment Corp increased 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 acquiring an additional 43 shares during the last quarter. Finally, Roxbury Financial LLC bought a new position in L3Harris Technologies in the fourth quarter valued at $30,000. Institutional investors own 84.76% of the company’s stock.

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.