L3Harris Technologies (NYSE:LHX) Raised to Overweight at Alembic Global Advisors

Alembic Global Advisors upgraded shares of L3Harris Technologies (NYSE:LHX) from a neutral rating to an overweight rating in a report issued on Monday, Marketbeat reports. They currently have $238.00 price objective on the stock.

Several other equities analysts have also commented on LHX. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research report on Monday, January 29th. StockNews.com lowered L3Harris Technologies from a buy rating to a hold rating in a research report on Monday, January 29th. Wells Fargo & Company lowered their price target on L3Harris Technologies from $250.00 to $238.00 and set an overweight rating for the company in a research report on Tuesday, January 30th. Citigroup lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. raised L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 price target for the company in a research report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $229.60.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $207.71 on Monday. The stock has a market cap of $39.49 billion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The firm’s fifty day simple moving average is $210.19 and its 200 day simple moving average is $200.99. L3Harris Technologies has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 earnings per share. As a group, research analysts predict that L3Harris Technologies will post 12.73 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 3,363 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the sale, the senior vice president now directly owns 55,254 shares in the company, valued at approximately $11,761,366.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently made changes to their positions in the company. GDS Wealth Management grew its stake in shares of L3Harris Technologies by 184.5% during the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after acquiring an additional 58,441 shares during the period. Sapient Capital LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $1,198,000. Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $46,000. Ceredex Value Advisors LLC grew its stake in shares of L3Harris Technologies by 14.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after acquiring an additional 83,319 shares during the period. Finally, BKM Wealth Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $1,125,000. 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.