L3Harris Technologies’ (LHX) Sector Perform Rating Reaffirmed at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX)‘s stock had its “sector perform” rating reiterated by investment analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They presently have a $240.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 13.38% from the company’s current price.

Several other brokerages also recently issued reports on LHX. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Barclays decreased their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Susquehanna decreased their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial reduced their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $268.64.

L3Harris Technologies Stock Down 0.2 %

NYSE:LHX traded down $0.38 during trading hours on Friday, reaching $211.68. The company’s stock had a trading volume of 507,399 shares, compared to its average volume of 1,214,957. The business’s 50-day moving average is $221.23 and its 200-day moving average is $232.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. The company has a market cap of $40.15 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. Equities research analysts predict that L3Harris Technologies will post 13.07 EPS for the current year.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its position in L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. increased its holdings in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares during the last quarter. Blossom Wealth Management increased its holdings in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Archer Investment Corp increased its holdings 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 purchasing an additional 43 shares during the last quarter. Hedge funds and other 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.