L3Harris Technologies (NYSE:LHX) Trading 0.3% Higher – What’s Next?

L3Harris Technologies, Inc. (NYSE:LHX)’s share price traded up 0.3% during trading on Friday . The company traded as high as $248.02 and last traded at $247.26. 48,968 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 906,477 shares. The stock had previously closed at $246.60.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company raised their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Stock Up 0.6 %

The stock has a market capitalization of $47.04 billion, a P/E ratio of 39.06, a P/E/G ratio of 2.03 and a beta of 0.72. The firm’s fifty day moving average is $244.49 and its 200-day moving average is $232.91. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 8,964 shares of company stock worth $2,179,119. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new position in L3Harris Technologies in the third quarter valued at about $36,000. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.