L3Harris Technologies (NYSE:LHX) Given New $395.00 Price Target at JPMorgan Chase & Co.

L3Harris Technologies (NYSE:LHX) had its target price hoisted by JPMorgan Chase & Co. from $340.00 to $395.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also weighed in on LHX. Truist Financial set a $364.00 price target on L3Harris Technologies in a report on Wednesday, January 14th. Vertical Research reissued a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research note on Tuesday, January 13th. UBS Group lifted their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley upped their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday. Finally, Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $342.41 on Thursday. The firm has a fifty day simple moving average of $313.50 and a two-hundred day simple moving average of $293.56. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $369.59. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $64.05 billion, a P/E ratio of 40.14, a PEG ratio of 2.44 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the firm earned $3.47 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.5%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 58.62%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LHX. Intrua Financial LLC increased its stake in shares of L3Harris Technologies by 27.6% during the fourth quarter. Intrua Financial LLC now owns 1,182 shares of the company’s stock valued at $347,000 after buying an additional 256 shares during the period. TD Private Client Wealth LLC increased its position in L3Harris Technologies by 18.5% during the 4th quarter. TD Private Client Wealth LLC now owns 9,212 shares of the company’s stock valued at $2,704,000 after purchasing an additional 1,439 shares during the period. Gabelli Funds LLC raised its holdings in shares of L3Harris Technologies by 0.8% in the 4th quarter. Gabelli Funds LLC now owns 94,225 shares of the company’s stock valued at $27,662,000 after purchasing an additional 776 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $1,880,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $93,000. 84.76% of the stock is owned by institutional investors.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.