JPMorgan Chase & Co. Raises L3Harris Technologies (NYSE:LHX) Price Target to $250.00

L3Harris Technologies (NYSE:LHX) had its target price lifted by JPMorgan Chase & Co. from $240.00 to $250.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on LHX. Alembic Global Advisors raised L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price objective for the company in a report on Monday, April 22nd. Royal Bank of Canada raised their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an outperform rating in a research note on Monday, April 29th. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an overweight rating for the company in a research note on Tuesday, January 30th. Raymond James raised their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform rating in a research note on Monday, January 29th. Finally, Barclays raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an overweight rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $231.33.

L3Harris Technologies Stock Up 0.4 %

Shares of NYSE LHX opened at $212.24 on Wednesday. The stock has a market cap of $40.26 billion, a PE ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63. The business has a fifty day moving average of $210.22 and a two-hundred day moving average of $202.31. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during 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%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $2.86 earnings per share. As a group, equities research analysts expect that L3Harris Technologies will post 12.87 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling

In other news, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 3,363 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $212.86, for a total value of $715,848.18. Following 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. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last three months. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors have recently modified their holdings of the stock. Bfsg LLC acquired a new position in shares of L3Harris Technologies during the 1st quarter worth about $25,000. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $28,000. KB Financial Partners LLC grew its position 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 worth $29,000 after buying an additional 82 shares during the period. Blue Trust Inc. grew its position in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the period. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after purchasing an additional 79 shares in the last quarter. 84.76% of the stock is currently 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.