L3Harris Technologies (NYSE:LHX) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of L3Harris Technologies (NYSE:LHX) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have $267.00 price objective on the stock, down from their prior price objective of $289.00.

Other analysts have also issued reports about the stock. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Barclays cut their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $266.31.

L3Harris Technologies Price Performance

Shares of LHX opened at $208.20 on Wednesday. L3Harris Technologies has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a market capitalization of $39.49 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The firm has a 50 day moving average of $231.09 and a 200 day moving average of $233.24. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that L3Harris Technologies will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Activity

In other news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,889 shares of company stock worth $1,800,572 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp increased its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at approximately $57,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of L3Harris Technologies in the third quarter valued at $64,000. 84.76% of the stock is currently owned by institutional investors.

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.