L3Harris Technologies (NYSE:LHX) Price Target Raised to $250.00

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

LHX has been the subject of a number of other reports. StockNews.com downgraded shares of L3Harris Technologies from a buy rating to a hold rating in a research report on Monday, January 29th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the stock an outperform rating in a report on Monday, January 29th. UBS Group upped their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research note on Monday, January 29th. Alembic Global Advisors raised L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Finally, Citigroup boosted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $231.33.

L3Harris Technologies Trading Down 1.1 %

LHX opened at $211.75 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’s 50-day moving average is $210.26 and its 200 day moving average is $202.25. The firm has a market capitalization of $40.16 billion, a PE ratio of 34.38, a P/E/G ratio of 2.00 and a beta of 0.65. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced its 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. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. During the same quarter in the previous year, the firm earned $2.86 earnings per share. L3Harris Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that L3Harris Technologies will post 12.83 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Activity at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 3,363 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the transaction, the senior vice president now owns 55,254 shares of the company’s stock, valued at $11,761,366.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock worth $10,261,360. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in LHX. Palisade Asset Management LLC raised its holdings in shares of L3Harris Technologies by 0.5% in the 1st quarter. Palisade Asset Management LLC now owns 47,985 shares of the company’s stock valued at $10,226,000 after acquiring an additional 219 shares in the last quarter. Schulhoff & Co. Inc. increased its position in shares of L3Harris Technologies by 5.6% in the first quarter. Schulhoff & Co. Inc. now owns 1,637 shares of the company’s stock worth $349,000 after purchasing an additional 87 shares during the last quarter. Peterson Wealth Services lifted its position in L3Harris Technologies by 5.8% during the first quarter. Peterson Wealth Services now owns 1,432 shares of the company’s stock valued at $305,000 after purchasing an additional 79 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $448,000. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of L3Harris Technologies by 6.4% in the 1st quarter. J.W. Cole Advisors Inc. now owns 3,829 shares of the company’s stock worth $807,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.