L3Harris Technologies (NYSE:LHX) Price Target Cut to $298.00

L3Harris Technologies (NYSE:LHXGet Rating) had its price target lowered by stock analysts at Susquehanna Bancshares from $302.00 to $298.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. Susquehanna Bancshares’ target price would indicate a potential upside of 28.30% from the stock’s previous close.

Several other research firms have also recently weighed in on LHX. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday. TheStreet upgraded shares of L3Harris Technologies from a “c” rating to a “b-” rating in a report on Monday, January 31st. Wells Fargo & Company increased their target price on shares of L3Harris Technologies from $240.00 to $291.00 and gave the stock an “overweight” rating in a report on Monday, March 7th. Morgan Stanley increased their target price on shares of L3Harris Technologies from $230.00 to $276.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 2nd. Finally, Susquehanna reduced their target price on shares of L3Harris Technologies from $302.00 to $298.00 in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $260.55.

Shares of NYSE LHX opened at $232.26 on Monday. The stock has a market cap of $44.84 billion, a P/E ratio of 24.97, a P/E/G ratio of 3.90 and a beta of 0.76. The firm has a 50 day moving average price of $250.50 and a 200 day moving average price of $230.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.18 and a current ratio of 1.40. L3Harris Technologies has a 52-week low of $200.71 and a 52-week high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.06 by $0.06. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.13 billion. L3Harris Technologies had a net margin of 10.68% and a return on equity of 13.14%. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.18 earnings per share. Analysts predict that L3Harris Technologies will post 13.53 earnings per share for the current fiscal year.

In other L3Harris Technologies news, insider Edward J. Zoiss sold 4,730 shares of the company’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $220.00, for a total transaction of $1,040,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LHX. Pinnacle Private Wealth LLC bought a new position in L3Harris Technologies during the fourth quarter worth about $351,000. Mcdonald Partners LLC increased its position in L3Harris Technologies by 2.6% during the third quarter. Mcdonald Partners LLC now owns 25,708 shares of the company’s stock worth $5,662,000 after acquiring an additional 650 shares during the period. National Bank of Canada FI bought a new position in L3Harris Technologies during the fourth quarter worth about $3,040,000. Whittier Trust Co. of Nevada Inc. increased its position in L3Harris Technologies by 2.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,994 shares of the company’s stock worth $425,000 after acquiring an additional 47 shares during the period. Finally, Clearstead Trust LLC increased its position in L3Harris Technologies by 1.5% during the fourth quarter. Clearstead Trust LLC now owns 12,459 shares of the company’s stock worth $2,657,000 after acquiring an additional 184 shares during the period. 80.15% of the stock is currently owned by institutional investors.

L3Harris Technologies Company Profile (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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