Deutsche Bank Aktiengesellschaft Lowers L3Harris Technologies (NYSE:LHX) Price Target to $229.00

L3Harris Technologies (NYSE:LHX) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 9.18% from the company’s previous close.

A number of other research firms also recently weighed in on LHX. Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Truist Financial lifted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.73.

L3Harris Technologies Trading Up 1.2 %

Shares of LHX opened at $209.75 on Thursday. The stock has a market capitalization of $39.78 billion, a P/E ratio of 33.14, a PEG ratio of 1.86 and a beta of 0.72. L3Harris Technologies has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $236.03 and a two-hundred day simple moving average of $233.94.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 EPS. On average, research analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current year.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 company insiders.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of L3Harris Technologies by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after purchasing an additional 27,763 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after buying an additional 31,686 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in L3Harris Technologies by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after buying an additional 156,453 shares during the period. Hedge funds and other 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.