L3Harris Technologies (NYSE:LHX) Cut to "C+" at TheStreet – MarketBeat
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L3Harris Technologies (NYSE:LHX – Get Rating) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued on Tuesday, TheStreetRatingsTable reports.
A number of other brokerages have also commented on LHX. Credit Suisse Group began coverage on shares of L3Harris Technologies in a report on Tuesday, October 11th. They set an “outperform” rating and a $267.00 price objective on the stock. Wolfe Research began coverage on shares of L3Harris Technologies in a research note on Monday, October 10th. They issued a “peer perform” rating on the stock. Royal Bank of Canada began coverage on shares of L3Harris Technologies in a research note on Monday, August 29th. They issued an “outperform” rating and a $285.00 price target on the stock. Morgan Stanley lowered their price target on shares of L3Harris Technologies from $276.00 to $263.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 10th. 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 on the stock. in a research note on Wednesday, September 28th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Hold” and an average target price of $269.42.
L3Harris Technologies Trading Up 0.5 %
Shares of NYSE:LHX opened at $226.43 on Tuesday. L3Harris Technologies has a 12 month low of $200.71 and a 12 month high of $279.71. The company has a quick ratio of 0.87, a current ratio of 1.10 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $229.46 and its 200 day simple moving average is $232.50. The firm has a market cap of $43.11 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 6.47 and a beta of 0.75.
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the business earned $3.21 earnings per share. The company’s revenue was up .4% on a year-over-year basis. As a group, research analysts forecast that L3Harris Technologies will post 12.86 EPS for the current fiscal year.
Insider Buying and Selling at L3Harris Technologies
In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 20,000 shares of the business’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 completion of the sale, the chief executive officer now 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 is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 20,000 shares of the business’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 completion of the sale, the chief executive officer now 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 is accessible through the SEC website. Also, VP James P. Girard sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total transaction of $1,146,900.00. Following the completion of the transaction, the vice president now owns 7,144 shares of the company’s stock, valued at $1,638,690.72. The disclosure for this sale can be found here. Insiders sold 37,460 shares of company stock valued at $8,792,500 in the last quarter. Company insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On L3Harris Technologies
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cowa LLC acquired a new position in L3Harris Technologies during the 1st quarter worth approximately $26,000. Crewe Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $30,000. Eagle Bay Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $30,000. Wagner Wealth Management LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $32,000. Finally, Apeiron RIA LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth approximately $33,000. 83.00% of the stock is currently owned by institutional investors and hedge funds.
About L3Harris Technologies
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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.
Further Reading
- Get a free copy of the StockNews.com research report on L3Harris Technologies (LHX)
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