L3Harris Technologies (NYSE:LHX) Price Target Increased to $245.00 by Analysts at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its price target increased by Wells Fargo & Company from $238.00 to $245.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also weighed in on LHX. JPMorgan Chase & Co. raised their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an overweight rating in a report on Wednesday, May 1st. StockNews.com downgraded L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Raymond James raised their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform 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 on the stock in a research report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a research report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $231.80.

L3Harris Technologies Stock Up 0.5 %

Shares of NYSE:LHX opened at $215.92 on Tuesday. The stock has a 50-day simple moving average of $210.32 and a 200-day simple moving average of $203.41. The stock has a market capitalization of $40.96 billion, a P/E ratio of 35.05, a PEG ratio of 1.88 and a beta of 0.63. L3Harris Technologies has a 1 year low of $160.25 and a 1 year 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 posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the previous year, the business posted $2.86 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts forecast that L3Harris Technologies will post 12.91 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.15%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction 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 approximately $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last ninety days. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Cross Staff Investments Inc raised its stake in shares of L3Harris Technologies by 12.4% during the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after purchasing an additional 158 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth about $1,198,000. Bruce G. Allen Investments LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $46,000. BKM Wealth Management LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $1,125,000. Finally, South Dakota Investment Council increased its stake in shares of L3Harris Technologies by 43.2% during the third quarter. South Dakota Investment Council now owns 39,368 shares of the company’s stock valued at $6,855,000 after acquiring an additional 11,879 shares during the period. Institutional investors and hedge funds 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.