L3Harris Technologies (NYSE:LHX) Upgraded to “Strong-Buy” at Argus

Argus upgraded shares of L3Harris Technologies (NYSE:LHX) to a strong-buy rating in a research note issued to investors on Friday,Zacks.com reports.

LHX has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. UBS Group increased their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Trading Up 2.6%

LHX traded up $9.34 during trading on Friday, hitting $364.50. The company’s stock had a trading volume of 1,962,727 shares, compared to its average volume of 1,214,682. L3Harris Technologies has a twelve month low of $195.72 and a twelve month high of $369.59. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $335.43 and its 200-day moving average price is $302.20. The firm has a market capitalization of $68.08 billion, a P/E ratio of 42.73, a PEG ratio of 2.56 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.47 EPS. Analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business 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 boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 56.27%.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the sale, the insider owned 5,916 shares in the company, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in L3Harris Technologies during the fourth quarter worth $25,000. Caitlin John LLC purchased a new position in L3Harris Technologies in the third quarter worth $28,000. Finally, American National Bank & Trust grew its stake in L3Harris Technologies by 44.8% in the 4th 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 period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

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.