L3Harris Technologies (NYSE:LHX) Stock Rating Upgraded by Argus

L3Harris Technologies (NYSE:LHX) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $300.00 price objective on the stock. Argus’ price objective suggests a potential upside of 24.67% from the company’s current price.

A number of other brokerages have also weighed in on LHX. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.67.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $240.64 on Tuesday. The stock has a market cap of $45.64 billion, a PE ratio of 38.02, a P/E/G ratio of 2.07 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a 12-month low of $187.37 and a 12-month high of $265.74. The business’s 50-day moving average price is $245.04 and its two-hundred day moving average price is $233.54.

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

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,964 shares of company stock worth $2,179,119 in the last quarter. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the third quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

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.