L3Harris Technologies (NYSE:LHX) Price Target Raised to $390.00 at Morgan Stanley

L3Harris Technologies (NYSE:LHX) had its target price upped by Morgan Stanley from $367.00 to $390.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on LHX. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Friday. UBS Group upped their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Vertical Research reiterated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a report on Tuesday, January 13th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $318.73.

L3Harris Technologies Trading Down 0.9%

NYSE:LHX opened at $339.85 on Monday. The firm has a market capitalization of $63.57 billion, a P/E ratio of 39.84, a P/E/G ratio of 2.11 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $309.41 and a 200 day moving average of $292.29. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $369.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.47 earnings per share. On average, research analysts predict that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitlin John LLC purchased a new stake in L3Harris Technologies during the 3rd quarter valued at $28,000. JPL Wealth Management LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at $29,000. American National Bank & Trust boosted its position in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. Triumph Capital Management bought a new stake in L3Harris Technologies in the 3rd quarter worth about $31,000. Finally, GGM Financials LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth about $32,000. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.