L3Harris Technologies (NYSE:LHX) Reaches New 12-Month High at $224.65

L3Harris Technologies, Inc. (NYSE:LHX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $224.65 and last traded at $224.65, with a volume of 36886 shares trading hands. The stock had previously closed at $223.62.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James upped their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Wells Fargo & Company upped their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. UBS Group upped their target price on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada increased their price target on L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Stock Up 0.0 %

The firm has a 50 day simple moving average of $212.06 and a two-hundred day simple moving average of $206.65. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $42.74 billion, a P/E ratio of 36.58, a PEG ratio of 1.89 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, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the company earned $2.86 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.06%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s payout ratio is presently 75.32%.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on 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 directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William H. Swanson purchased 1,250 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction on Monday, March 25th. The shares were 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 $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 over the last three months. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LHX. Sanibel Captiva Trust Company Inc. raised its position in L3Harris Technologies by 9.6% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 1,959 shares of the company’s stock worth $417,000 after purchasing an additional 171 shares during the last quarter. Delphi Management Inc. MA raised its position in L3Harris Technologies by 5.7% during the 1st quarter. Delphi Management Inc. MA now owns 4,544 shares of the company’s stock worth $968,000 after purchasing an additional 246 shares during the last quarter. LRI Investments LLC bought a new position in L3Harris Technologies during the 1st quarter worth $162,000. Virtu Financial LLC bought a new position in L3Harris Technologies during the 1st quarter worth $1,960,000. Finally, Plato Investment Management Ltd raised its position in L3Harris Technologies by 1,052.6% during the 1st quarter. Plato Investment Management Ltd now owns 3,331 shares of the company’s stock worth $710,000 after purchasing an additional 3,042 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Company Profile

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.