Susquehanna Boosts L3Harris Technologies (NYSE:LHX) Price Target to $270.00

L3Harris Technologies (NYSE:LHX) had its target price upped by Susquehanna from $260.00 to $270.00 in a report published on Monday, Benzinga reports. They currently have a positive rating on the stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an overweight rating in a research note on Tuesday, May 7th. Royal Bank of Canada lifted their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an outperform rating in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Barclays lifted their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an overweight rating in a report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft cut shares of L3Harris Technologies from a buy rating to a hold rating and increased their target price for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $236.60.

L3Harris Technologies Stock Up 1.0 %

Shares of NYSE LHX opened at $229.22 on Monday. The company has a market cap of $43.49 billion, a P/E ratio of 37.21, a PEG ratio of 1.89 and a beta of 0.72. The firm has a 50-day simple moving average of $226.44 and a two-hundred day simple moving average of $216.60. L3Harris Technologies has a 1 year low of $160.25 and a 1 year high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the business earned $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate that L3Harris Technologies will post 13.03 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

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

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $561,000. Adell Harriman & Carpenter Inc. boosted its holdings in L3Harris Technologies by 18.4% in the second quarter. Adell Harriman & Carpenter Inc. now owns 3,278 shares of the company’s stock valued at $736,000 after purchasing an additional 509 shares during the last quarter. TIAA Trust National Association grew its position in L3Harris Technologies by 2.2% during the 2nd quarter. TIAA Trust National Association now owns 3,821 shares of the company’s stock worth $858,000 after purchasing an additional 84 shares during the period. Rhumbline Advisers raised its stake in shares of L3Harris Technologies by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 336,073 shares of the company’s stock valued at $75,475,000 after buying an additional 8,320 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $2,933,000. 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.