L3Harris Technologies (NYSE:LHX) Given New $260.00 Price Target at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX) had its price objective decreased by Wells Fargo & Company from $262.00 to $260.00 in a report published on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Royal Bank of Canada reissued an outperform rating and issued a $250.00 target price on shares of L3Harris Technologies in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a buy rating to a hold rating and raised their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a positive rating in a research report on Monday, July 29th. Finally, Alembic Global Advisors upgraded shares of 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. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $238.50.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $230.19 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $226.57 and its 200 day simple moving average is $216.83. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $245.60. The firm has a market capitalization of $43.66 billion, a PE ratio of 37.37, a P/E/G ratio of 1.90 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 2.02%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The disclosure for this sale can be found here. Insiders have sold a total of 109,312 shares of company stock worth $24,712,822 in the last three months. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bfsg LLC purchased a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $25,000. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC lifted its position in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after purchasing an additional 109 shares during the period. Finally, Versant Capital Management Inc grew its holdings in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. 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.