L3Harris Technologies (NYSE:LHX) PT Raised to $265.00

L3Harris Technologies (NYSE:LHX) had its price objective hoisted by Barclays from $245.00 to $265.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 16.80% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and increased their target price for the stock from $245.00 to $257.00 in a research report on Friday, July 26th. Susquehanna raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of L3Harris Technologies in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.60.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $226.89 on Tuesday. The company has a market cap of $43.04 billion, a P/E ratio of 36.83, a P/E/G ratio of 1.87 and a beta of 0.72. The firm has a 50-day moving average of $226.31 and a 200-day moving average of $216.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. L3Harris Technologies has a one year low of $160.25 and a one year high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.97 earnings per share. Equities research analysts forecast that L3Harris Technologies will post 13.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 12.9% in the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after acquiring an additional 2,606,267 shares in the last quarter. Capital World Investors boosted its holdings in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after buying an additional 3,308,506 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of L3Harris Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after buying an additional 45,845 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of L3Harris Technologies by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after buying an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 shares in the last quarter. 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.