L3Harris Technologies (NYSE:LHX) Now Covered by Citigroup – MarketBeat
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Analysts at Citigroup began coverage on shares of L3Harris Technologies (NYSE:LHX – Get Rating) in a research note issued on Thursday, The Fly reports. The brokerage set a “neutral” rating on the stock.
A number of other equities research analysts have also recently issued reports on LHX. Credit Suisse Group initiated coverage on shares of L3Harris Technologies in a research note on Tuesday, October 11th. They issued an “outperform” rating and a $267.00 price objective for the company. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Argus lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Wolfe Research started coverage on shares of L3Harris Technologies in a report on Monday, October 10th. They set a “peer perform” rating for the company. Finally, StockNews.com started coverage on shares of L3Harris Technologies in a report on Wednesday, October 12th. They set a “buy” rating for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $269.42.
L3Harris Technologies Price Performance
Shares of L3Harris Technologies stock opened at $217.91 on Thursday. L3Harris Technologies has a 52-week low of $200.71 and a 52-week high of $279.71. The stock has a market capitalization of $41.49 billion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 6.28 and a beta of 0.71. The company has a fifty day moving average of $229.62 and a 200-day moving average of $231.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 1.10.
L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). L3Harris Technologies had a net margin of 6.71% and a return on equity of 13.18%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same period last year, the company posted $3.21 EPS. L3Harris Technologies’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts expect that L3Harris Technologies will post 12.85 EPS for the current year.
Insider Transactions at L3Harris Technologies
In other news, insider Dana A. Mehnert sold 1,985 shares of the company’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $227.25, for a total value of $451,091.25. Following the sale, the insider now directly owns 23,830 shares of the company’s stock, valued at approximately $5,415,367.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Christopher E. Kubasik sold 20,000 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $245.22, for a total value of $4,904,400.00. Following the sale, the chief executive officer now directly owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dana A. Mehnert sold 1,985 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $227.25, for a total transaction of $451,091.25. Following the completion of the sale, the insider now directly owns 23,830 shares in the company, valued at $5,415,367.50. The disclosure for this sale can be found here. Insiders have sold 39,445 shares of company stock valued at $9,243,591 in the last three months. 1.00% of the stock is currently owned by company insiders.
Institutional Trading of L3Harris Technologies
A number of hedge funds and other institutional investors have recently modified their holdings of LHX. Birmingham Capital Management Co. Inc. AL grew its position in L3Harris Technologies by 22.5% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 1,593 shares of the company’s stock valued at $331,000 after purchasing an additional 293 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in L3Harris Technologies by 26.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 67,834 shares of the company’s stock valued at $14,098,000 after purchasing an additional 14,041 shares during the last quarter. Toroso Investments LLC grew its position in L3Harris Technologies by 10.2% during the 3rd quarter. Toroso Investments LLC now owns 10,138 shares of the company’s stock valued at $2,107,000 after purchasing an additional 938 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in L3Harris Technologies during the 3rd quarter valued at about $236,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in L3Harris Technologies during the 3rd quarter valued at about $3,714,000. 83.00% of the stock is owned by hedge funds and other 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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