L3Harris Technologies (NYSE:LHX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

L3Harris Technologies (NYSE:LHX) had its target price hoisted by equities research analysts at Morgan Stanley from $367.00 to $390.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 10.97% from the stock’s previous close.

Several other brokerages have also recently commented on LHX. Wall Street Zen cut L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 11th. Citigroup increased their price objective on shares of L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Royal Bank Of Canada lifted their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday. Finally, Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $322.57.

L3Harris Technologies Stock Up 3.3%

Shares of LHX opened at $351.45 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The company has a 50-day simple moving average of $310.91 and a 200-day simple moving average of $292.90. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $369.59. The firm has a market capitalization of $65.74 billion, a P/E ratio of 41.20, a P/E/G ratio of 2.19 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.47 earnings per share. On average, equities research analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

Large investors have recently made changes to their positions in the business. Burns J W & Co. Inc. NY lifted its position in L3Harris Technologies by 3.1% during the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock worth $290,000 after buying an additional 30 shares in the last quarter. American National Bank & Trust lifted its position in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its position in shares of L3Harris Technologies by 3.7% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock worth $253,000 after purchasing an additional 31 shares in the last quarter. Rainier Family Wealth Inc. increased its holdings in shares of L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company’s stock valued at $205,000 after purchasing an additional 32 shares in the last quarter. Finally, San Luis Wealth Advisors LLC raised its position in L3Harris Technologies by 5.1% in the 4th quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company’s stock worth $207,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.