L3Harris Technologies (NYSE:LHX) Price Target Cut to $269.00 by Analysts at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its price objective lowered by Wells Fargo & Company from $300.00 to $269.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

LHX has been the topic of several other reports. Bank of America reduced their target price on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.47.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $202.28 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business’s fifty day moving average price is $209.31 and its two-hundred day moving average price is $228.53. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The stock has a market capitalization of $38.09 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

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 the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter worth approximately $27,000. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new position in L3Harris Technologies during the fourth quarter valued at approximately $30,000. 84.76% of the stock is 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.