L3Harris Technologies (NYSE:LHX) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of L3Harris Technologies (NYSE:LHX) from a market perform rating to an outperform rating in a report issued on Monday morning, Marketbeat reports. Raymond James currently has $210.00 price objective on the stock.

A number of other research firms have also recently commented on LHX. Royal Bank of Canada reiterated an outperform rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, August 18th. Truist Financial dropped their price objective on shares of L3Harris Technologies from $255.00 to $227.00 and set a buy rating on the stock in a report on Friday, October 20th. The Goldman Sachs Group raised their target price on L3Harris Technologies from $162.00 to $164.00 in a research note on Friday, August 11th. Sanford C. Bernstein lowered L3Harris Technologies from an outperform rating to a market perform rating and cut their price objective for the company from $239.00 to $210.00 in a report on Monday, August 28th. Finally, Citigroup assumed coverage on L3Harris Technologies in a report on Monday, September 11th. They set a buy rating and a $193.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $223.13.

L3Harris Technologies Trading Up 2.0 %

NYSE:LHX opened at $174.37 on Monday. The firm has a 50 day moving average of $174.13 and a 200 day moving average of $184.94. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.60. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $250.04. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 4.63 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.06 by $0.13. L3Harris Technologies had a return on equity of 12.66% and a net margin of 7.96%. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.95 billion. During the same quarter in the prior year, the business posted $3.26 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies will post 12.33 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $1.14 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.56 annualized dividend and a dividend yield of 2.62%. L3Harris Technologies’s dividend payout ratio is presently 58.61%.

Insider Buying and Selling

In other news, President Edward J. Zoiss sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total value of $2,725,200.00. Following the completion of the sale, the president now directly owns 31,923 shares in the company, valued at $2,899,885.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LHX. BlackRock Inc. lifted its holdings in L3Harris Technologies by 3.2% in the 1st quarter. BlackRock Inc. now owns 15,499,913 shares of the company’s stock valued at $3,041,703,000 after purchasing an additional 480,610 shares in the last quarter. State Street Corp boosted its position in L3Harris Technologies by 1.2% during the second quarter. State Street Corp now owns 8,795,513 shares of the company’s stock worth $1,721,898,000 after acquiring an additional 104,323 shares during the last quarter. Geode Capital Management LLC grew its stake in L3Harris Technologies by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,663,645 shares of the company’s stock valued at $715,171,000 after acquiring an additional 107,293 shares in the last quarter. FMR LLC raised its holdings in L3Harris Technologies by 22.9% in the 1st quarter. FMR LLC now owns 2,604,895 shares of the company’s stock valued at $511,184,000 after acquiring an additional 485,268 shares during the last quarter. Finally, Longview Partners Guernsey LTD lifted its stake in L3Harris Technologies by 15.3% in the 2nd quarter. Longview Partners Guernsey LTD now owns 2,391,090 shares of the company’s stock worth $468,104,000 after purchasing an additional 317,953 shares in the last quarter. Institutional investors and hedge funds own 81.33% of the company’s stock.

About L3Harris Technologies

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.