L3Harris Technologies (NYSE:LHX) Price Target Raised to $250.00 at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX) had its target price increased by Royal Bank of Canada from $245.00 to $250.00 in a report published on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on LHX. UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a report on Monday, January 29th. Raymond James increased their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an outperform rating in a research report on Monday, January 29th. StockNews.com lowered L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Finally, Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $229.93.

L3Harris Technologies Trading Up 1.2 %

LHX opened at $217.07 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $218.34. The business’s 50 day moving average is $210.26 and its two-hundred day moving average is $201.92. The firm has a market cap of $41.27 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same period last year, the firm posted $2.86 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts predict that L3Harris Technologies will post 12.76 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Activity

In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 over the last 90 days. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bfsg LLC purchased a new stake in L3Harris Technologies during the 1st quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $28,000. KB Financial Partners LLC boosted its stake in L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the last quarter. Blue Trust Inc. grew its holdings in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other 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.