L3Harris Technologies (NYSE:LHX) Upgraded by Alembic Global Advisors to “Overweight”

Alembic Global Advisors upgraded shares of L3Harris Technologies (NYSE:LHX) from a neutral rating to an overweight rating in a report published on Monday, MarketBeat reports. The firm currently has $238.00 price objective on the stock.

LHX has been the topic of several other research reports. Citigroup upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a report on Tuesday, February 13th. StockNews.com downgraded L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an overweight rating on the stock in a report on Tuesday, January 30th. Raymond James increased their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform rating in a research note on Monday, January 29th. Finally, UBS Group increased their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $229.60.

L3Harris Technologies Stock Up 1.3 %

NYSE LHX opened at $208.14 on Monday. The firm has a market cap of $39.57 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. L3Harris Technologies has a one year low of $160.25 and a one year high of $218.34. The stock’s 50 day simple moving average is $210.24 and its 200 day simple moving average is $200.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company earned $3.27 EPS. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that L3Harris Technologies will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.23%. L3Harris Technologies’s payout ratio is presently 72.05%.

Insider Buying and Selling

In other news, Director William H. Swanson bought 1,250 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William H. Swanson bought 1,250 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of large investors have recently added to or reduced their stakes in LHX. GDS Wealth Management grew its holdings in shares of L3Harris Technologies by 184.5% in the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after acquiring an additional 58,441 shares in the last quarter. Sapient Capital LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $1,198,000. Bruce G. Allen Investments LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $46,000. Ceredex Value Advisors LLC grew its holdings in shares of L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after acquiring an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $1,125,000. Institutional investors own 84.76% of the company’s stock.

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.