Barclays Boosts L3Harris Technologies (NYSE:LHX) Price Target to $245.00

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

LHX has been the subject of a number of other research reports. UBS Group boosted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research note on Monday, January 29th. Royal Bank of Canada raised their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a research note on Monday. Citigroup raised their price target on 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 L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 target price on the stock in a report on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of Moderate Buy and a consensus price target of $231.33.

L3Harris Technologies Stock Performance

LHX traded up $0.90 during trading on Tuesday, reaching $212.24. 785,256 shares of the company’s stock were exchanged, compared to its average volume of 1,121,944. The stock has a market capitalization of $40.26 billion, a P/E ratio of 34.45, a price-to-earnings-growth 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’s fifty day simple moving average is $210.22 and its 200-day simple moving average is $202.31. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Scott T. Mikuen sold 1,292 shares of the 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 sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value 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 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 in the last three months. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently modified their holdings of the stock. Strong Tower Advisory Services increased its holdings in L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after purchasing an additional 49 shares in the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock worth $636,000 after purchasing an additional 49 shares during the last quarter. Blossom Wealth Management boosted its position in shares of L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after purchasing an additional 51 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after purchasing an additional 53 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after purchasing an additional 58 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

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.