L3Harris Technologies (NYSE:LHX) Price Target Increased to $250.00 by Analysts at JPMorgan Chase & Co.

L3Harris Technologies (NYSE:LHX) had its price objective increased by JPMorgan Chase & Co. from $240.00 to $250.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

LHX has been the subject of several other research reports. UBS Group lifted their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research report on Monday, January 29th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Alembic Global Advisors upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a report on Monday. Finally, Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an overweight rating on the stock in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $231.33.

L3Harris Technologies Trading Down 1.1 %

Shares of LHX opened at $211.75 on Wednesday. The stock has a 50 day simple moving average of $210.26 and a 200-day simple moving average of $202.25. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock has a market cap of $40.16 billion, a PE ratio of 34.38, a PEG ratio of 1.97 and a beta of 0.63. L3Harris Technologies has a 1 year low of $160.25 and a 1 year high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter in the prior year, the firm earned $2.86 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that L3Harris Technologies will post 12.87 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling

In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Scott T. Mikuen sold 3,363 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $212.86, for a total transaction of $715,848.18. Following the completion of the transaction, the senior vice president now directly owns 55,254 shares in the company, valued at approximately $11,761,366.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bfsg LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at $25,000. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $28,000. KB Financial Partners LLC grew its holdings in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the period. Blue Trust Inc. increased its position in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Finally, Washington Trust Advisors Inc. lifted its position in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

About L3Harris Technologies

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.