Susquehanna Issues Pessimistic Forecast for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX - Free Report) had its target price reduced by Susquehanna from $300.00 to $258.00 in a research report report published on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other research firms have also issued reports on LHX. Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Sanford C. Bernstein upgraded L3Harris Technologies from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $289.00 to $267.00 in a report on Wednesday. Wolfe Research upgraded shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a report on Thursday, October 10th. StockNews.com upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $266.31.

L3Harris Technologies Stock Up 2.0 %

Shares of L3Harris Technologies stock traded up $4.09 on Wednesday, reaching $207.09. The company's stock had a trading volume of 1,413,616 shares, compared to its average volume of 1,213,838. The firm's fifty day simple moving average is $233.46 and its two-hundred day simple moving average is $233.73. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $39.28 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 1.86 and a beta of 0.75. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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 net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same quarter last year, the company posted $3.19 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 2.24%. L3Harris Technologies's dividend payout ratio (DPR) is 73.30%.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company's stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 7,889 shares of company stock valued at $1,800,572 over the last 90 days. Corporate insiders own 0.82% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KCM Investment Advisors LLC increased its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after purchasing an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at approximately $841,000. Sanctuary Advisors LLC grew its position in L3Harris Technologies by 13.9% in the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after acquiring an additional 3,740 shares during the period. Principal Financial Group Inc. increased its stake in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after acquiring an additional 4,321 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. Hedge funds and other 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.