L3Harris Technologies (NYSE:LHX) Price Target Increased to $250.00 by Analysts at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX) had its price target lifted by Royal Bank of Canada from $245.00 to $250.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the stock.

LHX has been the topic of several other research reports. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a buy rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 price target on the stock in a research note on Thursday, January 11th. StockNews.com lowered L3Harris Technologies from a buy rating to a hold rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 target price on the stock in a research report on Monday, April 22nd. Finally, Raymond James raised their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $229.93.

L3Harris Technologies Trading Up 1.2 %

Shares of LHX stock opened at $217.07 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The company has a market cap of $41.27 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.99 and a beta of 0.65. L3Harris Technologies has a 1 year low of $160.25 and a 1 year high of $218.34. The firm has a fifty day moving average price of $210.26 and a 200-day moving average price of $201.92.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the company posted $2.86 earnings per share. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies will post 12.76 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last three months. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds have recently modified their holdings of the stock. Strong Tower Advisory Services raised its stake in L3Harris Technologies by 0.9% in the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after acquiring an additional 49 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its stake in shares of L3Harris Technologies by 1.7% in the first quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after purchasing an additional 49 shares during the last quarter. Blossom Wealth Management lifted its holdings in shares of L3Harris Technologies by 2.1% during the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares during the period. JFS Wealth Advisors LLC boosted its position in L3Harris Technologies by 12.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after buying an additional 53 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in L3Harris Technologies by 13.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.