L3Harris Technologies (NYSE:LHX) Given New $265.00 Price Target at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX) had its target price lifted by equities researchers at Royal Bank of Canada from $240.00 to $265.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 5.86% from the company’s previous close.

Several other research firms have also weighed in on LHX. Wells Fargo & Company lifted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Barclays boosted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.50.

L3Harris Technologies Trading Down 1.0 %

Shares of L3Harris Technologies stock traded down $2.48 during midday trading on Monday, reaching $250.33. 237,747 shares of the company’s stock traded hands, compared to its average volume of 908,480. The company has a market cap of $47.49 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The stock has a 50 day moving average of $237.08 and a 200-day moving average of $227.50. L3Harris Technologies has a 12 month low of $172.30 and a 12 month high of $258.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the company posted $3.19 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that L3Harris Technologies will post 13.06 EPS for the current fiscal year.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently made changes to their positions in LHX. HM Payson & Co. boosted its stake in shares of L3Harris Technologies by 4.1% during the 3rd quarter. HM Payson & Co. now owns 454,471 shares of the company’s stock worth $108,105,000 after acquiring an additional 17,786 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in L3Harris Technologies by 3.0% during the third quarter. Cornerstone Wealth Group LLC now owns 14,066 shares of the company’s stock valued at $3,346,000 after purchasing an additional 408 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in L3Harris Technologies by 4.4% during the third quarter. Tandem Capital Management Corp ADV now owns 8,067 shares of the company’s stock valued at $1,919,000 after purchasing an additional 342 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of L3Harris Technologies by 1.3% in the third quarter. Pinnacle Associates Ltd. now owns 27,332 shares of the company’s stock worth $6,501,000 after buying an additional 345 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in shares of L3Harris Technologies by 4.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,856 shares of the company’s stock valued at $1,393,000 after buying an additional 224 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.