L3Harris Technologies (NYSE:LHX) Price Target Raised to $245.00

L3Harris Technologies (NYSE:LHX) had its price target hoisted by Barclays from $238.00 to $245.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

LHX has been the topic of several other research reports. Wells Fargo & Company dropped their target price on L3Harris Technologies from $250.00 to $238.00 and set an overweight rating on the stock in a research report on Tuesday, January 30th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. 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. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a report on Monday, April 29th. Finally, StockNews.com lowered shares of L3Harris Technologies from a buy rating to a hold rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $231.33.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $212.24 on Tuesday. The company has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63. The business has a fifty day simple moving average of $210.22 and a two-hundred day simple moving average of $202.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. L3Harris Technologies has a 1 year low of $160.25 and a 1 year high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.86 EPS. On average, analysts expect that L3Harris Technologies will post 12.87 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a dividend yield of 2.19%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction 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 approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently made changes to their positions in the business. Bfsg LLC bought a new stake in L3Harris Technologies in the first quarter valued at $25,000. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth about $28,000. KB Financial Partners LLC boosted its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of L3Harris Technologies during the third quarter valued at about $35,000. Finally, Blue Trust Inc. raised its stake in L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Company Profile

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.