Wells Fargo & Company Lowers L3Harris Technologies (NYSE:LHX) Price Target to $219.00

L3Harris Technologies (NYSE:LHX – Get Rating) had its target price decreased by stock analysts at Wells Fargo & Company from $260.00 to $219.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 9.64% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com began coverage on L3Harris Technologies in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Wolfe Research began coverage on L3Harris Technologies in a report on Monday, October 10th. They set a “peer perform” rating on the stock. TheStreet cut L3Harris Technologies from a “b-” rating to a “c+” rating in a report on Tuesday, November 22nd. JPMorgan Chase & Co. dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, December 12th. Finally, Argus lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Hold” and an average target price of $263.07.

L3Harris Technologies Stock Down 0.1 %

Shares of L3Harris Technologies stock opened at $199.75 on Wednesday. The business has a 50-day moving average of $216.89 and a 200-day moving average of $226.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.10 and a quick ratio of 0.87. The company has a market capitalization of $38.03 billion, a PE ratio of 34.68, a P/E/G ratio of 5.95 and a beta of 0.73. L3Harris Technologies has a 1-year low of $197.02 and a 1-year high of $279.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.18). L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the business posted $3.21 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities analysts forecast that L3Harris Technologies will post 12.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 20,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 20,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James P. Girard sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total transaction of $1,146,900.00. Following the transaction, the vice president now directly owns 7,144 shares of the company’s stock, valued at approximately $1,638,690.72. The disclosure for this sale can be found here. Insiders sold a total of 39,445 shares of company stock valued at $9,243,591 in the last quarter. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 1.8% in the third quarter. Vanguard Group Inc. now owns 17,282,623 shares of the company’s stock valued at $3,591,848,000 after buying an additional 302,279 shares during the period. Capital World Investors raised its holdings in L3Harris Technologies by 1.0% in the first quarter. Capital World Investors now owns 15,022,227 shares of the company’s stock worth $3,732,645,000 after purchasing an additional 150,987 shares during the period. BlackRock Inc. raised its holdings in L3Harris Technologies by 15.1% in the third quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock worth $2,975,043,000 after purchasing an additional 1,875,236 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 17.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock worth $2,028,151,000 after purchasing an additional 1,448,364 shares during the period. Finally, Bank of America Corp DE raised its holdings in L3Harris Technologies by 39.9% in the first quarter. Bank of America Corp DE now owns 8,046,413 shares of the company’s stock worth $1,999,292,000 after purchasing an additional 2,293,072 shares during the period. 82.18% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

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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.