L3Harris Technologies (NYSE:LHX) Stock Price Expected to Rise, Truist Financial Analyst Says

L3Harris Technologies (NYSE:LHX) had its price target increased by Truist Financial from $293.00 to $300.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

LHX has been the subject of a number of other research reports. Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $247.47 on Monday. The company has a market capitalization of $46.95 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 2.10 and a beta of 0.73. L3Harris Technologies has a 1-year low of $176.15 and a 1-year high of $258.89. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $238.37 and its 200-day simple moving average is $228.37.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. On average, sell-side analysts predict that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other 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 owns 13,328 shares in the company, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently modified their holdings of LHX. Vanguard Group Inc. lifted its position in L3Harris Technologies by 12.9% in the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies in the second quarter valued at about $210,886,000. Envestnet Asset Management Inc. raised its position in L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares in 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.