L3Harris Technologies (NYSE:LHX) Given New $250.00 Price Target at Morgan Stanley

L3Harris Technologies (NYSE:LHX) had its price objective reduced by investment analysts at Morgan Stanley from $260.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 17.34% from the stock’s previous close.

Several other research firms have also recently commented on LHX. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group raised their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $263.07.

L3Harris Technologies Stock Up 0.5 %

NYSE LHX opened at $213.07 on Tuesday. The stock has a market cap of $40.41 billion, a PE ratio of 27.07, a P/E/G ratio of 1.74 and a beta of 0.76. The business has a 50 day moving average price of $220.51 and a two-hundred day moving average price of $232.17. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. 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 (NYSE:LHX) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that L3Harris Technologies will post 13.8 EPS for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction 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 sale, the insider now directly owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 4,901 shares of company stock valued at $1,059,757. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently modified their holdings of LHX. Park Avenue Securities LLC grew its position in L3Harris Technologies by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 5,526 shares of the company’s stock worth $1,314,000 after purchasing an additional 176 shares during the last quarter. Czech National Bank raised its stake in L3Harris Technologies by 6.9% during the 3rd quarter. Czech National Bank now owns 38,644 shares of the company’s stock valued at $9,192,000 after acquiring an additional 2,499 shares in the last quarter. GAMMA Investing LLC boosted its position in L3Harris Technologies by 51.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,208 shares of the company’s stock worth $525,000 after acquiring an additional 746 shares during the period. Mather Group LLC. grew its stake in shares of L3Harris Technologies by 29.9% in the third quarter. Mather Group LLC. now owns 755 shares of the company’s stock worth $180,000 after purchasing an additional 174 shares in the last quarter. Finally, Atwood & Palmer Inc. raised its stake in shares of L3Harris Technologies by 6.4% during the third quarter. Atwood & Palmer Inc. now owns 60,616 shares of the company’s stock valued at $14,419,000 after purchasing an additional 3,640 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.