L3Harris Technologies (NYSE:LHX) PT Raised to $265.00 at Barclays

L3Harris Technologies (NYSE:LHX) had its price objective increased by Barclays from $245.00 to $265.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on LHX. Susquehanna raised their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a positive rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the company an overweight rating in a research note on Tuesday, May 7th. Royal Bank of Canada reaffirmed an outperform rating and issued a $250.00 price objective on shares of L3Harris Technologies in a research note on Monday, July 29th. Alembic Global Advisors raised 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. Finally, JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $238.50.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $230.19 on Tuesday. The company has a market cap of $43.67 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock has a 50 day simple moving average of $226.57 and a 200-day simple moving average of $216.75. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 EPS. On average, equities analysts forecast that L3Harris Technologies will post 13.04 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Friday, May 31st. The shares were sold at an average price of $222.45, for a total value of $5,561,250.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at approximately $26,766,518.70. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock worth $24,712,822 over the last quarter. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 12.9% in the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock valued at $4,857,141,000 after acquiring an additional 2,606,267 shares during the last quarter. Capital World Investors raised its position in L3Harris Technologies by 26.0% in the fourth 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 period. Price T Rowe Associates Inc. MD raised its position in L3Harris Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares during the period. Wells Fargo & Company MN raised its position 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 valued at $1,084,176,000 after purchasing an additional 101,708 shares during the period. Finally, Wellington Management Group LLP raised its position in L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the period. Institutional investors and hedge funds 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.