L3Harris Technologies (NYSE:LHX) Price Target Raised to $390.00

L3Harris Technologies (NYSE:LHX) had its price target raised by Morgan Stanley from $367.00 to $390.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, January 12th. UBS Group lifted their price objective on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $322.57.

L3Harris Technologies Trading Down 3.5%

Shares of LHX stock opened at $339.43 on Monday. The firm has a market capitalization of $63.49 billion, a P/E ratio of 39.79, a price-to-earnings-growth ratio of 2.53 and a beta of 0.64. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $369.59. The firm’s fifty day simple moving average is $312.18 and its 200 day simple moving average is $293.22. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm earned $3.47 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 56.27%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Caitlin John LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at about $28,000. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $29,000. American National Bank & Trust grew its stake in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $31,000. Finally, GGM Financials LLC bought a new position in L3Harris Technologies in the 3rd quarter worth approximately $32,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.