L3Harris Technologies (NYSE:LHX) Stock Rating Upgraded by Argus

Argus upgraded shares of L3Harris Technologies (NYSE:LHX - Free Report) from a hold rating to a buy rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $300.00 price objective on the stock.

A number of other research firms also recently weighed in on LHX. Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. StockNews.com upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Finally, Morgan Stanley downgraded L3Harris Technologies from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $269.67.

L3Harris Technologies Stock Up 2.0 %

NYSE:LHX traded up $4.90 on Tuesday, hitting $245.50. 372,556 shares of the company's stock were exchanged, compared to its average volume of 908,250. The company has a market cap of $46.56 billion, a P/E ratio of 38.67, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72. L3Harris Technologies has a 52 week low of $187.37 and a 52 week high of $265.74. The firm has a 50-day moving average price of $245.04 and a 200-day moving average price of $233.54. 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 issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same quarter in the previous year, the company earned $3.19 EPS. The business's revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies's dividend payout ratio (DPR) is presently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is currently owned by insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently bought and sold shares of LHX. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp grew 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 acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the third quarter worth $36,000. EntryPoint Capital LLC grew its stake in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company's stock worth $41,000 after acquiring an additional 80 shares during the last quarter. Institutional investors 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.