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

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

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an overweight rating on the stock in a report on Tuesday, January 30th. Citigroup boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a buy rating in a research report on Tuesday, February 13th. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a neutral rating in a report on Monday, January 29th. Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform rating in a research report on Monday, January 29th. Finally, Alembic Global Advisors upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 target price for the company in a report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $231.33.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $212.24 on Wednesday. The firm has a fifty day simple moving average of $210.18 and a two-hundred day simple moving average of $202.54. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a market capitalization of $40.26 billion, a PE ratio of 34.45, a P/E/G ratio of 1.88 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.86 EPS. Research analysts expect that L3Harris Technologies will post 12.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Swanson acquired 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently bought and sold shares of the business. Bfsg LLC purchased a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $25,000. Transcendent Capital Group LLC bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $28,000. KB Financial Partners LLC boosted its holdings in L3Harris Technologies by 96.5% in 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 last quarter. Blue Trust Inc. grew its position in L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares during the period. Finally, Washington Trust Advisors Inc. grew its holdings 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 worth $37,000 after acquiring an additional 79 shares during the period. Hedge funds and other 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.