UBS Group Issues Positive Forecast for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX) had its price objective hoisted by UBS Group from $222.00 to $226.00 in a research note released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

LHX has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Barclays reduced their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group upgraded L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Bank of America reduced their price target on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $256.56.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $218.98 on Monday. The stock has a market capitalization of $41.11 billion, a PE ratio of 27.82, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The business has a fifty day moving average price of $211.07 and a two-hundred day moving average price of $221.77. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. L3Harris Technologies’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.06 EPS. As a group, equities analysts predict that L3Harris Technologies will post 11.12 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 Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in shares of L3Harris Technologies by 6.0% in the 1st quarter. D.A. Davidson & CO. now owns 7,719 shares of the company’s stock worth $1,616,000 after buying an additional 436 shares during the last quarter. Capital Investment Counsel Inc purchased a new position in shares of L3Harris Technologies in the 1st quarter worth about $284,000. Teacher Retirement System of Texas lifted its holdings in L3Harris Technologies by 226.5% during the first quarter. Teacher Retirement System of Texas now owns 36,530 shares of the company’s stock valued at $7,646,000 after purchasing an additional 25,340 shares during the last quarter. Private Trust Co. NA lifted its holdings in L3Harris Technologies by 29.1% during the first quarter. Private Trust Co. NA now owns 1,254 shares of the company’s stock valued at $262,000 after purchasing an additional 283 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its holdings in L3Harris Technologies by 0.3% during the first quarter. Pinnacle Financial Partners Inc now owns 36,197 shares of the company’s stock valued at $7,576,000 after purchasing an additional 125 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.