Robert W. Baird cut shares of L3Harris Technologies (NYSE:LHX) from an outperform rating to a neutral rating in a research note issued to investors on Thursday morning, AnalystRatings.net reports. The brokerage currently has $210.00 price objective on the stock, down from their prior price objective of $242.00.
Several other research firms have also commented on LHX. UBS Group raised shares of L3Harris Technologies from a neutral rating to a buy rating in a research note on Wednesday, September 30th. 140166 initiated coverage on shares of L3Harris Technologies in a research report on Monday, December 14th. They issued a positive rating and a $230.00 price target for the company. JPMorgan Chase & Co. downgraded shares of L3Harris Technologies from an overweight rating to a neutral rating and reduced their price target for the company from $220.00 to $215.00 in a research report on Tuesday, December 15th. Royal Bank of Canada reduced their price target on shares of L3Harris Technologies from $219.00 to $199.00 and set an outperform rating for the company in a research report on Monday, November 2nd. Finally, ValuEngine downgraded shares of L3Harris Technologies from a hold rating to a sell rating in a research report on Thursday, October 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $234.16.
LHX stock opened at $180.70 on Thursday. L3Harris Technologies has a 12 month low of $142.01 and a 12 month high of $230.99. The firm has a market cap of $37.97 billion, a PE ratio of 29.92, a P/E/G ratio of 1.08 and a beta of 0.80. The firm has a 50 day simple moving average of $189.25 and a 200 day simple moving average of $179.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.37 and a quick ratio of 1.18.
L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, October 30th. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.74 by $0.10. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the business earned $2.58 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies will post 11.55 earnings per share for the current year.
In other L3Harris Technologies news, VP Todd A. Taylor sold 4,976 shares of the company’s stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $194.64, for a total value of $968,528.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter worth $829,000. Global Retirement Partners LLC increased its stake in shares of L3Harris Technologies by 111.1% during the 3rd quarter. Global Retirement Partners LLC now owns 228 shares of the company’s stock worth $39,000 after purchasing an additional 120 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth $47,000. WASHINGTON TRUST Co increased its stake in shares of L3Harris Technologies by 115.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 254 shares of the company’s stock worth $43,000 after purchasing an additional 136 shares during the last quarter. Finally, Disciplined Investments LLC increased its stake in shares of L3Harris Technologies by 231.0% during the 3rd quarter. Disciplined Investments LLC now owns 278 shares of the company’s stock worth $47,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 82.92% of the company’s stock.
About L3Harris Technologies
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, modifications, and periodic depot maintenance services for ISR and airborne missions.
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