L3Harris Technologies (NYSE:LHX) Given New $237.00 Price Target at UBS Group

L3Harris Technologies (NYSE:LHX) had its target price increased by investment analysts at UBS Group from $228.00 to $237.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 11.95% from the stock’s previous close.

LHX has been the subject of several other reports. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $265.87.

L3Harris Technologies Stock Down 0.2 %

LHX traded down $0.37 during trading on Friday, hitting $211.69. The stock had a trading volume of 584,925 shares, compared to its average volume of 1,218,863. The company has a market capitalization of $40.15 billion, a PE ratio of 33.43, a PEG ratio of 1.69 and a beta of 0.75. L3Harris Technologies has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a 50 day simple moving average of $221.23 and a two-hundred day simple moving average of $232.43.

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

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.3% in 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 purchasing an additional 59,008 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of L3Harris Technologies by 5.9% in 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 acquiring an additional 85,882 shares during the period. Raymond James & Associates raised its stake in shares of L3Harris Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 984,888 shares of the company’s stock valued at $234,275,000 after acquiring an additional 28,882 shares during the period. Finally, Mizuho Markets Americas LLC raised its stake in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the period. 84.76% of the stock is currently 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.