L3Harris Technologies (NYSE:LHX) Reaches New 52-Week High at $244.44

Shares of L3Harris Technologies, Inc. (NYSE:LHX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $244.44 and last traded at $243.13, with a volume of 239930 shares trading hands. The stock had previously closed at $237.15.

Analyst Ratings Changes

A number of analysts recently weighed in on LHX shares. Royal Bank of Canada increased their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Barclays raised their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Trading Up 3.4 %

The company has a market cap of $46.51 billion, a P/E ratio of 38.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $225.67 and its 200-day moving average price is $215.61.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the company earned $2.86 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a yield of 1.89%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Scott T. Mikuen sold 15,887 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The disclosure for this sale can be found here. Insiders sold 109,312 shares of company stock valued at $24,712,822 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LHX. Vanguard Group Inc. raised its position in shares of L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Capital World Investors increased its position in shares of L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after buying an additional 45,845 shares during the last quarter. Wells Fargo & Company MN boosted its stake in L3Harris Technologies by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after buying an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.