L3Harris Technologies (NYSE:LHX) Price Target Lowered to $250.00 at Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX) had its price target cut by Deutsche Bank Aktiengesellschaft from $252.00 to $250.00 in a research note published on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Royal Bank of Canada lowered L3Harris Technologies from an outperform rating to a sector perform rating and cut their price target for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Susquehanna upped their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a positive rating in a research note on Monday, July 29th. Morgan Stanley lowered 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 research note on Friday, August 9th. Finally, Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of Moderate Buy and a consensus target price of $246.54.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $243.11 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market cap of $46.11 billion, a P/E ratio of 39.47, a P/E/G ratio of 2.04 and a beta of 0.73. The business’s fifty day moving average is $231.34 and its two-hundred day moving average is $223.27. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $247.33.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) 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 business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated 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 sale, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Insiders sold 32,390 shares of company stock worth $7,592,959 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. RFG Advisory LLC grew its holdings in shares of L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after buying an additional 43 shares in the last quarter. Optas LLC boosted its position in L3Harris Technologies by 3.3% during the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the last quarter. Founders Financial Securities LLC boosted its position in L3Harris Technologies by 2.8% during the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after purchasing an additional 48 shares during the last quarter. Whitener Capital Management Inc. boosted its position in L3Harris Technologies by 3.0% during the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after purchasing an additional 50 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. boosted its position in L3Harris Technologies by 0.6% during the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after purchasing an additional 55 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

About L3Harris Technologies

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.