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

L3Harris Technologies (NYSE:LHX) had its price objective upped by Wells Fargo & Company from $238.00 to $245.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on the stock. Citigroup lifted 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. StockNews.com downgraded shares of L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. UBS Group upped their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research note on Monday, January 29th. Finally, Barclays raised their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock an overweight rating in a research note on Tuesday, April 30th. Four 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.com, the company currently has an average rating of Moderate Buy and a consensus target price of $231.80.

L3Harris Technologies Trading Up 0.5 %

LHX stock opened at $215.92 on Tuesday. The firm has a market cap of $40.96 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The firm has a fifty day moving average price of $210.32 and a 200 day moving average price of $203.41. 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 has a fifty-two week low of $160.25 and a fifty-two week high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.86 EPS. Sell-side analysts anticipate that L3Harris Technologies will post 12.91 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock valued at $10,261,360 over the last ninety days. 0.87% of the stock is owned by company insiders.

Institutional Trading of L3Harris Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cross Staff Investments Inc raised its stake in L3Harris Technologies by 12.4% in the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock valued at $302,000 after buying an additional 158 shares during the last quarter. Sapient Capital LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $1,198,000. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at approximately $46,000. BKM Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth $1,125,000. Finally, South Dakota Investment Council grew its holdings 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 buying an additional 11,879 shares during the last quarter. 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.