L3Harris Technologies (NYSE:LHX) Hits New 52-Week Low – Should You Sell?

L3Harris Technologies, Inc. (NYSE:LHX) hit a new 52-week low on Wednesday . The company traded as low as $199.56 and last traded at $201.55, with a volume of 668161 shares changing hands. The stock had previously closed at $206.75.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Susquehanna lowered their price target on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Citigroup reduced their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday. Finally, UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $262.67.

L3Harris Technologies Stock Down 3.2 %

The stock has a market cap of $37.95 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.75 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $215.60 and its two-hundred day moving average is $230.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.19 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares in the company, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 4,901 shares of company stock worth $1,059,757 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LHX. O Shaughnessy Asset Management LLC increased its holdings in shares of L3Harris Technologies by 5.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,457 shares of the company’s stock valued at $4,091,000 after purchasing an additional 960 shares during the period. Physician Wealth Advisors Inc. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $82,000. California Public Employees Retirement System raised its holdings in L3Harris Technologies by 0.8% during the fourth quarter. California Public Employees Retirement System now owns 780,128 shares of the company’s stock worth $164,045,000 after purchasing an additional 6,096 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in L3Harris Technologies by 5.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,622 shares of the company’s stock valued at $15,692,000 after purchasing an additional 4,150 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in L3Harris Technologies in the fourth quarter valued at about $11,508,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.