Deutsche Bank Aktiengesellschaft Cuts L3Harris Technologies (NYSE:LHX) Price Target to $229.00

L3Harris Technologies (NYSE:LHX) had its price target dropped by Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 9.18% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $267.73.

L3Harris Technologies Price Performance

LHX stock opened at $209.75 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company’s fifty day moving average price is $236.03 and its 200-day moving average price is $233.94. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. The company has a market capitalization of $39.78 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 EPS. On average, equities analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last quarter. 0.82% of the stock is owned by insiders.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Ritholtz Wealth Management lifted its holdings in shares of L3Harris Technologies by 27.2% in the 2nd quarter. Ritholtz Wealth Management now owns 1,978 shares of the company’s stock worth $444,000 after buying an additional 423 shares during the period. Rhumbline Advisers lifted its position in L3Harris Technologies by 2.5% during the second quarter. Rhumbline Advisers now owns 336,073 shares of the company’s stock valued at $75,475,000 after acquiring an additional 8,320 shares during the last quarter. TIAA Trust National Association boosted its position in shares of L3Harris Technologies by 2.2% in the 2nd quarter. TIAA Trust National Association now owns 3,821 shares of the company’s stock worth $858,000 after purchasing an additional 84 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in L3Harris Technologies in the second quarter worth about $561,000. Finally, Founders Financial Securities LLC boosted its stake in L3Harris Technologies by 2.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after purchasing an additional 48 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.