L3Harris Technologies (NYSE:LHX) Rating Increased to Buy at The Goldman Sachs Group

L3Harris Technologies (NYSE:LHX) was upgraded by stock analysts at The Goldman Sachs Group from a “sell” rating to a “buy” rating in a research note issued on Friday,Benzinga 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 22.87% from the stock’s current price.

Several other research analysts have also commented on LHX. Barclays reduced their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Jefferies Financial Group reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Citigroup lowered their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $256.94.

L3Harris Technologies Trading Down 0.1 %

NYSE LHX opened at $214.04 on Friday. L3Harris Technologies has a one year low of $193.09 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market capitalization of $40.18 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company’s 50-day simple moving average is $207.40 and its two-hundred day simple moving average is $223.78.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities analysts forecast that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Retireful LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $332,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in L3Harris Technologies by 26.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,981 shares of the company’s stock worth $2,089,000 after buying an additional 2,106 shares in the last quarter. Iams Wealth Management LLC grew its position in L3Harris Technologies by 21.3% during the first quarter. Iams Wealth Management LLC now owns 11,488 shares of the company’s stock valued at $2,405,000 after buying an additional 2,019 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in L3Harris Technologies by 18.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,896 shares of the company’s stock valued at $1,234,000 after buying an additional 933 shares in the last quarter. Finally, Romano Brothers AND Company raised its position in shares of L3Harris Technologies by 2.1% in the first quarter. Romano Brothers AND Company now owns 16,779 shares of the company’s stock worth $3,512,000 after acquiring an additional 350 shares during the period. 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.