L3Harris Technologies (NYSE:LHX) Given New $264.00 Price Target at Truist Financial

L3Harris Technologies (NYSE:LHXGet Rating) had its price target increased by Truist Financial from $258.00 to $264.00 in a report published on Monday, The Fly reports.

LHX has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a neutral rating for the company in a research note on Monday, December 12th. Bank of America lowered shares of L3Harris Technologies from a buy rating to a neutral rating and reduced their price objective for the company from $285.00 to $250.00 in a research note on Friday, November 11th. TheStreet lowered shares of L3Harris Technologies from a b- rating to a c+ rating in a research note on Tuesday, November 22nd. Wolfe Research assumed coverage on shares of L3Harris Technologies in a research report on Monday, October 10th. They set a peer perform rating for the company. Finally, Wells Fargo & Company lowered shares of L3Harris Technologies from an overweight rating to an equal weight rating and set a $238.00 price target for the company. in a research report on Wednesday, September 28th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of Hold and an average price target of $266.29.

L3Harris Technologies Trading Down 2.5 %

Shares of LHX stock opened at $201.07 on Monday. The company has a 50 day moving average of $219.16 and a 200-day moving average of $227.39. The company has a quick ratio of 0.87, a current ratio of 1.10 and a debt-to-equity ratio of 0.32. L3Harris Technologies has a 12-month low of $199.51 and a 12-month high of $279.71. The firm has a market cap of $38.28 billion, a P/E ratio of 34.91, a PEG ratio of 5.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHXGet Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.18). L3Harris Technologies had a net margin of 6.71% and a return on equity of 13.18%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies will post 12.86 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, November 17th. L3Harris Technologies’s dividend payout ratio is currently 77.78%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP James P. Girard sold 12,460 shares of the business’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $220.00, for a total value of $2,741,200.00. Following the completion of the sale, the vice president now directly owns 12,144 shares of the company’s stock, valued at $2,671,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 20,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $245.22, for a total value of $4,904,400.00. Following the completion of the sale, the chief executive officer now directly owns 98,926 shares of the company’s stock, valued at $24,258,633.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James P. Girard sold 12,460 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the completion of the sale, the vice president now directly owns 12,144 shares of the company’s stock, valued at $2,671,680. The disclosure for this sale can be found here. Insiders sold 39,445 shares of company stock valued at $9,243,591 over the last three months. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently modified their holdings of LHX. Cowa LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at about $26,000. Crewe Advisors LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at about $30,000. General Partner Inc. bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $30,000. Eagle Bay Advisors LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at about $30,000. Finally, Wagner Wealth Management LLC bought a new position in shares of L3Harris Technologies during the second quarter valued at about $32,000. 82.18% of the stock is owned by institutional investors.

L3Harris Technologies Company Profile

(Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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