Barclays Cuts L3Harris Technologies (NYSE:LHX) Price Target to $255.00

L3Harris Technologies (NYSE:LHX - Free Report) had its price target decreased by Barclays from $290.00 to $255.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on LHX. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a report on Monday, October 28th. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada upped their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. Finally, Citigroup lifted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $267.07.

L3Harris Technologies Trading Down 2.8 %

Shares of NYSE LHX traded down $5.80 during midday trading on Monday, reaching $203.95. 1,369,576 shares of the stock were exchanged, compared to its average volume of 1,080,489. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $38.68 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 1.86 and a beta of 0.75. The business has a 50-day simple moving average of $234.29 and a two-hundred day simple moving average of $233.89.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. L3Harris Technologies's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company's stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its holdings in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. raised its stake in L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock valued at $385,000 after acquiring an additional 42 shares during the period. Blossom Wealth Management lifted its holdings in L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock worth $322,000 after purchasing an additional 43 shares during the period. Finally, Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.