L3Harris Technologies (NYSE:LHX) Upgraded at The Goldman Sachs Group

L3Harris Technologies (NYSE:LHX) was upgraded by equities research analysts at The Goldman Sachs Group from a “sell” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $263.00 price target on the stock, up from their prior price target of $198.00. The Goldman Sachs Group’s target price would suggest a potential upside of 18.64% from the stock’s current price.

A number of other research firms also recently commented on LHX. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Morgan Stanley lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.94.

L3Harris Technologies Stock Up 3.8 %

Shares of NYSE LHX opened at $221.67 on Friday. L3Harris Technologies has a 52-week low of $193.09 and a 52-week high of $265.74. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.42 and a beta of 0.71. The stock has a 50 day moving average price of $207.62 and a 200 day moving average price of $223.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last issued its 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%. Sell-side analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after buying an additional 111 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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.