L3Harris Technologies (NYSE:LHX) Price Target Raised to $293.00 at Truist Financial

by · The Markets Daily

L3Harris Technologies (NYSE:LHX – Free Report) had its price objective raised by Truist Financial from $250.00 to $293.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

LHX has been the subject of a number of other reports. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna increased their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

View Our Latest Stock Report on L3Harris Technologies

L3Harris Technologies Stock Performance

NYSE:LHX opened at $248.78 on Friday. L3Harris Technologies has a 12 month low of $169.55 and a 12 month high of $249.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market capitalization of $47.19 billion, a PE ratio of 40.39, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The business’s fifty day moving average price is $235.12 and its 200 day moving average price is $225.81.

L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $2.97 EPS. On average, sell-side analysts anticipate that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 75.32%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LHX. Meeder Asset Management Inc. lifted its position in shares of 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 in the last quarter. EntryPoint Capital LLC boosted its stake 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 purchasing an additional 69 shares during the last quarter. 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 buying an additional 80 shares in the last quarter. Family Firm Inc. acquired a new position in shares of L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of L3Harris Technologies during the second quarter valued at approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

(Get Free Report)

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.

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