Royal Bank of Canada Increases L3Harris Technologies (NYSE:LHX) Price Target to $265.00

L3Harris Technologies (NYSE:LHX - Free Report) had its target price boosted by Royal Bank of Canada from $240.00 to $265.00 in a report issued on Monday, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently commented on the stock. Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a "positive" rating in a research report on Monday, July 29th. Morgan Stanley cut L3Harris Technologies from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Truist Financial increased their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research note on Monday. Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price for the company in a report on Thursday, October 10th. Finally, Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $261.50.

L3Harris Technologies Stock Down 1.9 %

Shares of NYSE LHX traded down $4.77 during midday trading on Monday, hitting $248.04. The stock had a trading volume of 1,033,395 shares, compared to its average volume of 912,305. The business's 50 day moving average is $237.08 and its 200-day moving average is $227.50. L3Harris Technologies has a 52 week low of $172.30 and a 52 week high of $258.89. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. The company has a market cap of $47.06 billion, a P/E ratio of 40.10, a PEG ratio of 2.10 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 13.02% and a net margin of 5.73%. The firm 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 business earned $3.19 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company 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 $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies's dividend payout ratio is currently 74.24%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company's stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.82% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company's stock valued at $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc grew its stake in 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 purchasing an additional 80 shares in the last quarter. Family Firm Inc. purchased a new position in L3Harris Technologies during the 2nd quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of L3Harris Technologies in the 2nd quarter worth $57,000. 84.76% of the stock is owned by 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.