L3Harris Technologies (NYSE:LHX) Cut to “C+” at TheStreet

L3Harris Technologies (NYSE:LHXGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

Several other research analysts have also issued reports on the stock. Wolfe Research assumed coverage on shares of L3Harris Technologies in a research note on Monday, October 10th. They set a “peer perform” rating on the stock. Argus lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Credit Suisse Group assumed coverage on shares of L3Harris Technologies in a research note on Tuesday, October 11th. They set an “outperform” rating and a $267.00 target price on the stock. StockNews.com assumed coverage on shares of L3Harris Technologies in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Morgan Stanley cut their target price on shares of L3Harris Technologies from $276.00 to $263.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Hold” and a consensus price target of $269.42.

L3Harris Technologies Trading Up 0.5 %

NYSE:LHX opened at $226.43 on Tuesday. The firm’s fifty day moving average is $229.46 and its 200-day moving average is $232.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 1.10. L3Harris Technologies has a 52 week low of $200.71 and a 52 week high of $279.71. The firm has a market cap of $43.11 billion, a P/E ratio of 39.31, a P/E/G ratio of 6.47 and a beta of 0.75.

L3Harris Technologies (NYSE:LHXGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). L3Harris Technologies had a net margin of 6.71% and a return on equity of 13.18%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the company posted $3.21 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies will post 12.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the sale, the chief executive officer now owns 98,926 shares in the company, valued at $24,258,633.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other L3Harris Technologies news, VP James P. Girard sold 5,000 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total transaction of $1,146,900.00. Following the completion of the transaction, the vice president now owns 7,144 shares in the company, valued at $1,638,690.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 20,000 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the transaction, the chief executive officer now owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,460 shares of company stock worth $8,792,500. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC bought a new position in L3Harris Technologies during the second quarter worth about $30,000. Crewe Advisors LLC bought a new position in L3Harris Technologies during the second quarter worth about $30,000. Wagner Wealth Management LLC bought a new position in shares of L3Harris Technologies in the second quarter valued at approximately $32,000. Apeiron RIA LLC bought a new position in shares of L3Harris Technologies in the second quarter valued at approximately $33,000. Finally, Sound Income Strategies LLC boosted its position in shares of L3Harris Technologies by 333.3% in the second quarter. Sound Income Strategies LLC now owns 156 shares of the company’s stock valued at $38,000 after acquiring an additional 120 shares during the period. Institutional investors own 83.00% of the company’s stock.

About L3Harris Technologies

(Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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