L3Harris Technologies (NYSE:LHX) Price Target Raised to $293.00 at Truist Financial

L3Harris Technologies (NYSE:LHX) had its price objective upped by Truist Financial from $250.00 to $293.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

LHX has been the subject of a number of other research reports. Susquehanna lifted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $256.71.

L3Harris Technologies Trading Down 0.3 %

Shares of LHX opened at $248.15 on Friday. The firm has a market cap of $47.07 billion, a P/E ratio of 40.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies has a fifty-two week low of $169.55 and a fifty-two week high of $250.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The business has a 50-day moving average of $235.50 and a 200 day moving average of $226.38.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company earned $2.97 earnings per share. As a group, research analysts forecast that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently bought and sold shares of LHX. NBC Securities Inc. grew its stake in L3Harris Technologies by 33.5% during the 1st quarter. NBC Securities Inc. now owns 566 shares of the company’s stock worth $121,000 after buying an additional 142 shares during the last quarter. GAMMA Investing LLC boosted its holdings in L3Harris Technologies by 7.6% in the first quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $198,000 after acquiring an additional 66 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of L3Harris Technologies during the first quarter worth about $123,000. Park Avenue Securities LLC increased its holdings in shares of L3Harris Technologies by 20.9% during the first quarter. Park Avenue Securities LLC now owns 4,878 shares of the company’s stock valued at $1,040,000 after acquiring an additional 843 shares in the last quarter. Finally, RFG Advisory LLC purchased a new position in shares of L3Harris Technologies in the 1st quarter valued at approximately $293,000. 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.