Royal Bank of Canada Raises L3Harris Technologies (NYSE:LHX) Price Target to $250.00

L3Harris Technologies (NYSE:LHX) had its target price boosted by Royal Bank of Canada from $245.00 to $250.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an overweight rating on the stock in a research note on Tuesday, January 30th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 price objective for the company in a research report on Thursday, January 11th. StockNews.com cut L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Alembic Global Advisors raised L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Finally, Citigroup increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $231.33.

L3Harris Technologies Stock Down 1.1 %

NYSE LHX opened at $211.75 on Monday. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $210.26 and its two-hundred day moving average is $202.25. The company has a market capitalization of $40.16 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.00 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the business posted $2.86 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Equities analysts forecast that L3Harris Technologies will post 12.83 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.19%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other L3Harris Technologies news, insider Edward J. Zoiss sold 3,707 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company’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 transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 in the last quarter. Company insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of institutional investors have recently modified their holdings of the company. Bfsg LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new position in L3Harris Technologies in the fourth quarter valued at $28,000. KB Financial Partners LLC increased its stake in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new stake in L3Harris Technologies in the 3rd quarter valued at $35,000. Finally, Blue Trust Inc. lifted its position in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares in 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.