Morgan Stanley Increases L3Harris Technologies (NYSE:LHX) Price Target to $350.00

L3Harris Technologies (NYSE:LHX) had its target price raised by equities researchers at Morgan Stanley from $250.00 to $350.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 23.12% from the company’s previous close.

A number of other research firms have also commented on LHX. Truist Financial upped their price target on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays raised their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Citigroup raised their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $287.63.

L3Harris Technologies Trading Down 1.9%

LHX opened at $284.28 on Wednesday. The business has a 50 day simple moving average of $282.94 and a two-hundred day simple moving average of $254.90. The firm has a market capitalization of $53.19 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 2.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies has a one year low of $193.09 and a one year high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.L3Harris Technologies’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts predict that L3Harris Technologies will post 11.12 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter worth $299,157,000. Bank of New York Mellon Corp increased its holdings in shares of L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after purchasing an additional 1,413,833 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth $324,940,000. Boston Partners increased its holdings in shares of L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after purchasing an additional 766,075 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.