L3Harris Technologies (NYSE:LHX) Sets New 12-Month High – Time to Buy?

L3Harris Technologies, Inc. (NYSE:LHX) shares reached a new 52-week high during trading on Monday . The company traded as high as $247.98 and last traded at $247.98, with a volume of 346 shares trading hands. The stock had previously closed at $246.04.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LHX shares. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna increased their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Five research 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.64.

L3Harris Technologies Trading Down 1.2 %

The firm has a market capitalization of $46.53 billion, a PE ratio of 39.82, a P/E/G ratio of 2.08 and a beta of 0.73. The firm has a 50 day simple moving average of $233.93 and a 200 day simple moving average of $225.21. 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 released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm posted $2.97 earnings per share. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. increased its position in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after purchasing an additional 42 shares during the last quarter. RFG Advisory LLC increased its holdings in L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the last quarter. Optas LLC raised its position in L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after acquiring an additional 44 shares during the period. Founders Financial Securities LLC boosted its stake in shares of L3Harris Technologies by 2.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after acquiring an additional 48 shares during the last quarter. Finally, Whitener Capital Management Inc. grew its position in shares of L3Harris Technologies by 3.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after acquiring an additional 50 shares during the period. Institutional investors own 84.76% of the company’s stock.

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.