L3Harris Technologies (NYSE:LHX) Stock Rating Lowered by Argus – MarketBeat

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L3Harris Technologies (NYSE:LHX – Get Rating) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They currently have a $250.00 price target on the stock, down from their previous price target of $285.00. Bank of America‘s price objective points to a potential upside of 4.45% from the stock’s previous close.
LHX has been the topic of several other research reports. Robert W. Baird decreased their price target on shares of L3Harris Technologies from $332.00 to $290.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. TheStreet raised L3Harris Technologies from a “c” rating to a “b-” rating in a research note on Friday, October 21st. Raymond James cut L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, October 28th. Royal Bank of Canada assumed coverage on shares of L3Harris Technologies in a research report on Monday, August 29th. They set an “outperform” rating and a $285.00 price target for the company. Finally, Wells Fargo & Company lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price target for the company. in a research report on Wednesday, September 28th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $269.42.

L3Harris Technologies Stock Performance

LHX stock opened at $239.34 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $230.80 and a 200-day moving average price of $233.53. The firm has a market cap of $45.57 billion, a PE ratio of 41.55, a price-to-earnings-growth ratio of 5.55 and a beta of 0.75. L3Harris Technologies has a 1-year low of $200.71 and a 1-year high of $279.71.
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.47 by ($0.21). The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 EPS. As a group, equities research analysts expect that L3Harris Technologies will post 12.81 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In other news, VP James P. Girard sold 7,500 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the transaction, the vice president now owns 12,143 shares in the company, valued at $2,914,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP James P. Girard sold 7,500 shares of L3Harris Technologies stock in a transaction on Monday, August 15th. The stock was sold at an average price of $240.00, for a total value of $1,800,000.00. Following the transaction, the vice president now owns 12,143 shares in the company, valued at approximately $2,914,320. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James P. Girard sold 12,460 shares of the firm’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $220.00, for a total value of $2,741,200.00. Following the sale, the vice president now directly owns 12,144 shares in the company, valued at approximately $2,671,680. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,478 shares of company stock valued at $12,619,358. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cowa LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at about $26,000. Crewe Advisors LLC purchased a new stake in L3Harris Technologies in the second quarter worth about $30,000. Eagle Bay Advisors LLC purchased a new stake in L3Harris Technologies in the second quarter worth about $30,000. Wagner Wealth Management LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at approximately $32,000. Finally, Apeiron RIA LLC bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $33,000. 83.00% of the stock is owned by institutional investors.

L3Harris Technologies Company Profile

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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, modification, and periodic depot maintenance services for ISR and airborne missions.

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