L3Harris Technologies (NYSE:LHX) Lifted to Outperform at Wolfe Research

Wolfe Research upgraded shares of L3Harris Technologies (NYSE:LHX) from a peer perform rating to an outperform rating in a report issued on Thursday morning, Marketbeat reports. They currently have $300.00 price objective on the stock.

Several other equities analysts also recently commented on the company. Morgan Stanley downgraded L3Harris Technologies from an overweight rating to an equal weight rating and cut their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays raised their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a hold rating for the company in a report on Thursday, October 3rd. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a positive rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company decreased their target price on L3Harris Technologies from $262.00 to $260.00 and set an overweight rating for the company in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $253.64.

L3Harris Technologies Price Performance

Shares of LHX stock traded up $1.51 during trading hours on Thursday, hitting $243.86. The stock had a trading volume of 34,647 shares, compared to its average volume of 919,772. The stock’s 50-day moving average price is $232.80 and its two-hundred day moving average price is $224.32. L3Harris Technologies has a one year low of $169.55 and a one year high of $247.33. The stock has a market capitalization of $46.26 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 2.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the company posted $2.97 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 74.24%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,863 shares of company stock valued at $5,171,749 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 260.6% in the 2nd 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. Transcendent Capital Group LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at about $28,000. EntryPoint Capital LLC raised its position in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in L3Harris Technologies in the second quarter valued at approximately $45,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.