L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) dropped 0.3% during trading on Friday . The company traded as low as $236.80 and last traded at $237.36. Approximately 198,625 shares traded hands during trading, a decline of 78% from the average daily volume of 902,677 shares. The stock had previously closed at $238.14.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Morgan Stanley cut L3Harris Technologies from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $269.67.
Read Our Latest Research Report on L3Harris Technologies
L3Harris Technologies Stock Performance
The stock has a market capitalization of $44.58 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72. The firm has a fifty day moving average of $246.70 and a 200 day moving average of $234.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.
L3Harris Technologies (NYSE:LHX - Get Free Report) 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 business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.
L3Harris Technologies Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.97%. L3Harris Technologies's payout ratio is 73.30%.
Insider Buying and Selling
In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company's stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC grew its stake in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after buying an additional 40 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in shares of L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company's stock valued at $385,000 after buying an additional 42 shares in the last quarter. RFG Advisory LLC grew its stake in shares of L3Harris Technologies by 3.1% in the second quarter. RFG Advisory LLC now owns 1,416 shares of the company's stock valued at $318,000 after buying an additional 43 shares in the last quarter. Blossom Wealth Management grew its stake in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company's stock valued at $604,000 after buying an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its stake in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds 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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