Truist Financial Lowers L3Harris Technologies (NYSE:LHX) Price Target to $264.00

L3Harris Technologies (NYSE:LHX - Free Report) had its price objective trimmed by Truist Financial from $274.00 to $264.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. UBS Group upped their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Barclays reduced their price objective on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price target on shares of L3Harris Technologies in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $256.35.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $0.76 during midday trading on Thursday, reaching $214.88. The company's stock had a trading volume of 1,750,786 shares, compared to its average volume of 1,008,245. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market capitalization of $40.34 billion, a PE ratio of 27.30, a P/E/G ratio of 2.42 and a beta of 0.71. The stock's 50 day simple moving average is $209.14 and its 200 day simple moving average is $222.68.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, equities research analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 60.99%.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC grew its stake in shares of L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company's stock valued at $200,000 after buying an additional 50 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in L3Harris Technologies by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company's stock valued at $328,000 after acquiring an additional 51 shares during the period. Belpointe Asset Management LLC boosted its position in shares of L3Harris Technologies by 0.7% during the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after acquiring an additional 52 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in L3Harris Technologies by 2.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company's stock valued at $514,000 after acquiring an additional 53 shares during the period. Finally, Klingman & Associates LLC grew its position in L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company's stock worth $406,000 after acquiring an additional 53 shares during the last quarter. 84.76% of the stock is 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.