L3Harris Technologies (NYSE:LHX) Shares Up 0.4% – Should You Buy?

L3Harris Technologies, Inc. (NYSE:LHX) traded up 0.4% on Wednesday . The company traded as high as $240.95 and last traded at $240.81. 110,083 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 902,538 shares. The stock had previously closed at $239.86.

Analysts Set New Price Targets

Several analysts have commented on LHX shares. Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $269.67.

L3Harris Technologies Trading Down 1.0 %

The stock has a fifty day moving average of $246.70 and a 200 day moving average of $234.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $45.16 billion, a P/E ratio of 37.61, a PEG ratio of 2.00 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred 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 sale, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in L3Harris Technologies by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 218,228 shares of the company’s stock valued at $54,171,000 after buying an additional 1,221 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of L3Harris Technologies by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock valued at $9,890,000 after acquiring an additional 194 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of L3Harris Technologies by 17.5% in the third quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock valued at $1,602,000 after purchasing an additional 1,003 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in L3Harris Technologies in the third quarter worth $1,704,000. Finally, World Investment Advisors LLC raised its stake in L3Harris Technologies by 220.3% during the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock valued at $7,750,000 after purchasing an additional 22,407 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.