Royal Bank of Canada Lowers L3Harris Technologies (NYSE:LHX) Price Target to $225.00

L3Harris Technologies (NYSE:LHX) had its target price dropped by stock analysts at Royal Bank of Canada from $240.00 to $225.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 25.41% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Citigroup began coverage on shares of L3Harris Technologies in a report on Monday, September 11th. They issued a “buy” rating and a $193.00 target price on the stock. The Goldman Sachs Group lifted their price objective on L3Harris Technologies from $162.00 to $164.00 in a research note on Friday, August 11th. UBS Group initiated coverage on L3Harris Technologies in a research report on Tuesday, October 10th. They issued a “neutral” rating on the stock. Raymond James raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Monday. Finally, Truist Financial dropped their target price on shares of L3Harris Technologies from $255.00 to $227.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $222.75.

L3Harris Technologies Price Performance

NYSE LHX opened at $179.41 on Monday. The company has a 50 day simple moving average of $174.12 and a 200-day simple moving average of $184.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.69. The firm has a market capitalization of $33.93 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 4.63 and a beta of 0.71. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $250.04.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.13. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.95 billion. L3Harris Technologies had a return on equity of 12.66% and a net margin of 7.96%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned $3.26 EPS. Equities research analysts predict that L3Harris Technologies will post 12.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, President Edward J. Zoiss sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total value of $2,725,200.00. Following the sale, the president now owns 31,923 shares of the company’s stock, valued at approximately $2,899,885.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors have recently modified their holdings of LHX. Cowa LLC purchased a new stake in L3Harris Technologies in the 1st quarter worth about $26,000. GoalVest Advisory LLC increased its position in shares of L3Harris Technologies by 179.6% in the 2nd quarter. GoalVest Advisory LLC now owns 137 shares of the company’s stock valued at $27,000 after acquiring an additional 88 shares during the period. Mascoma Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in L3Harris Technologies in the first quarter valued at $27,000. Finally, First Capital Advisors Group LLC. acquired a new stake in L3Harris Technologies in the 2nd quarter worth about $29,000. 81.33% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

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.