L3Harris Technologies (NYSE:LHX) Price Target Raised to $395.00

L3Harris Technologies (NYSE:LHX) had its price objective increased by JPMorgan Chase & Co. from $340.00 to $395.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Thursday, January 15th. UBS Group upped their price target on L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Morgan Stanley lifted their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Citigroup boosted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $349.62 on Thursday. The firm has a fifty day moving average of $314.93 and a two-hundred day moving average of $294.37. The firm has a market cap of $65.40 billion, a P/E ratio of 40.99, a P/E/G ratio of 2.52 and a beta of 0.64. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $369.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the business posted $3.47 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 56.27%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the transaction, the insider owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kiker Wealth Management LLC raised its position in L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Caitlin John LLC bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $28,000. American National Bank & Trust grew its stake in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $30,000. 84.76% of the stock is owned by institutional investors.

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.