Jefferies Financial Group Issues Pessimistic Forecast for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX) had its price target lowered by analysts at Jefferies Financial Group from $260.00 to $250.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 19.55% from the company’s previous close.

Several other research firms have also recently commented on LHX. Morgan Stanley dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $260.69.

L3Harris Technologies Trading Up 0.7 %

LHX traded up $1.37 on Monday, hitting $209.12. 450,860 shares of the company were exchanged, compared to its average volume of 960,938. 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 12 month low of $193.09 and a 12 month high of $265.74. The firm has a fifty day simple moving average of $209.34 and a two-hundred day simple moving average of $225.51. The stock has a market capitalization of $39.25 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted 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%. Sell-side analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

Insider Transactions at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.