L3Harris Technologies (NYSE:LHX) Shares Down 0.4% – Time to Sell?

L3Harris Technologies, Inc. (NYSE:LHX) fell 0.4% during trading on Friday . The stock traded as low as $245.60 and last traded at $247.18. 284,612 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 904,809 shares. The stock had previously closed at $248.16.

Analysts Set New Price Targets

A number of research analysts have weighed in on LHX shares. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Truist Financial lifted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock’s fifty day moving average is $243.16 and its 200-day moving average is $232.02. The stock has a market capitalization of $46.85 billion, a P/E ratio of 39.02, a PEG ratio of 2.18 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, beating the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.19 EPS. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. Company insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares during the period. Geode Capital Management LLC boosted its position in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after buying an additional 59,008 shares in the last quarter. Bank of New York Mellon Corp raised its position in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after purchasing an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. 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.