L3Harris Technologies (NYSE:LHX) Stock Rating Upgraded by Alembic Global Advisors

L3Harris Technologies (NYSE:LHX) was upgraded by equities research analysts at Alembic Global Advisors from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat.com reports. The firm presently has a $238.00 target price on the stock. Alembic Global Advisors’ price target points to a potential upside of 14.63% from the company’s previous close.

Several other brokerages have also commented on LHX. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Citigroup increased their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Finally, Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.60.

L3Harris Technologies Price Performance

NYSE:LHX opened at $207.62 on Monday. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a fifty day moving average of $210.23 and a 200 day moving average of $200.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The firm has a market capitalization of $39.47 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.91 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the business earned $3.27 earnings per share. L3Harris Technologies’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts expect that L3Harris Technologies will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bfsg LLC bought a new position in L3Harris Technologies in the 1st quarter valued at approximately $25,000. Milestone Asset Management LLC purchased a new stake in shares of L3Harris Technologies during the first quarter valued at $567,000. Covenant Asset Management LLC bought a new stake in L3Harris Technologies in the 1st quarter worth about $1,008,000. LaFleur & Godfrey LLC raised its position in L3Harris Technologies by 0.5% in the 1st quarter. LaFleur & Godfrey LLC now owns 17,665 shares of the company’s stock worth $3,764,000 after buying an additional 95 shares during the last quarter. Finally, Asset Planning Services Inc. LA ADV raised its position in L3Harris Technologies by 0.4% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 22,355 shares of the company’s stock worth $4,764,000 after buying an additional 100 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

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.