L3Harris Technologies (NYSE:LHX) Price Target Increased to $245.00 by Analysts at Barclays

L3Harris Technologies (NYSE:LHX) had its price target lifted by Barclays from $238.00 to $245.00 in a research note released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on LHX. Citigroup increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Raymond James raised their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an outperform rating in a report on Monday, January 29th. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a report on Monday. Alembic Global Advisors upgraded shares of 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. Finally, JPMorgan Chase & Co. raised shares of L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 target price on the stock in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $231.33.

L3Harris Technologies Stock Up 0.4 %

Shares of NYSE LHX traded up $0.90 during midday trading on Tuesday, hitting $212.24. The stock had a trading volume of 785,256 shares, compared to its average volume of 1,121,944. The business’s 50 day moving average is $210.22 and its 200-day moving average is $202.31. The company has a market cap of $40.26 billion, a P/E ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.86 earnings per share. As a group, analysts predict that L3Harris Technologies will post 12.87 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued 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 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies 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 sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bfsg LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at approximately $28,000. KB Financial Partners LLC increased its holdings in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $35,000. Finally, Blue Trust Inc. increased its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.