L3Harris Technologies (NYSE:LHX) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Briefing.com reports. They currently have a $208.00 price objective on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 0.31% from the company’s current price.
Several other research analysts also recently weighed in on the company. Citigroup reduced their target price on L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, February 1st. JPMorgan Chase & Co. lowered L3Harris Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $220.00 to $215.00 in a research note on Tuesday, December 15th. Morgan Stanley decreased their target price on L3Harris Technologies from $235.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, February 8th. Cowen reaffirmed a “buy” rating and issued a $210.00 price target on shares of L3Harris Technologies in a research note on Friday, February 5th. Finally, Credit Suisse Group reduced their price objective on L3Harris Technologies from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, February 1st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. L3Harris Technologies presently has an average rating of “Buy” and a consensus target price of $225.80.
LHX stock opened at $208.65 on Thursday. L3Harris Technologies has a 52 week low of $158.09 and a 52 week high of $210.14. The firm has a 50 day moving average of $193.10 and a 200 day moving average of $185.35. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $42.89 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80.
Hedge funds and other institutional investors have recently modified their holdings of the business. TD Ameritrade Investment Management LLC acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $25,000. Exchange Traded Concepts LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $30,000. DB Wealth Management Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $32,000. Sage Private Wealth Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $35,000. Finally, Fieldpoint Private Securities LLC purchased a new position in L3Harris Technologies in the fourth quarter worth approximately $37,000. Institutional investors own 80.58% of the company’s stock.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.
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