L3Harris Technologies (NYSE:LHX) Trading 0.1% Higher – Here’s What Happened

Shares of L3Harris Technologies, Inc. (NYSE:LHX) traded up 0.1% during mid-day trading on Tuesday . The company traded as high as $230.84 and last traded at $229.93. 138,461 shares traded hands during trading, a decline of 85% from the average session volume of 906,612 shares. The stock had previously closed at $229.76.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company boosted their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.67.

L3Harris Technologies Trading Up 0.9 %

The company’s 50 day moving average price is $246.53 and its 200 day moving average price is $234.82. The company has a market cap of $43.99 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business posted $3.19 EPS. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.

Institutional Trading of L3Harris Technologies

Several large investors have recently modified their holdings of LHX. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the 3rd quarter valued at $36,000. Family Firm Inc. bought a new stake in L3Harris Technologies in the 2nd quarter valued at $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at $57,000. 84.76% of the stock is 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.