Deutsche Bank Aktiengesellschaft Cuts L3Harris Technologies (NYSE:LHX) Price Target to $250.00

L3Harris Technologies (NYSE:LHX) had its target price cut by Deutsche Bank Aktiengesellschaft from $252.00 to $250.00 in a report released on Thursday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on LHX. Barclays increased their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an overweight rating to an equal weight rating and lowered their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Susquehanna increased their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a positive rating in a research report on Monday, July 29th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an outperform rating to a sector perform rating and lowered their price objective for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of Moderate Buy and a consensus target price of $246.54.

L3Harris Technologies Price Performance

LHX stock opened at $243.66 on Thursday. The firm has a market cap of $46.22 billion, a P/E ratio of 39.56, a P/E/G ratio of 2.04 and a beta of 0.73. The firm’s fifty day moving average is $231.62 and its 200 day moving average is $223.58. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $247.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Research analysts predict that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. L3Harris Technologies’s dividend payout ratio (DPR) is 75.32%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares in the company, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,390 shares of company stock worth $7,592,959 in the last quarter. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently added to or reduced their stakes in LHX. RFG Advisory LLC raised its position in shares of L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares during the last quarter. Optas LLC lifted its stake in shares of L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after buying an additional 44 shares in the last quarter. Founders Financial Securities LLC lifted its stake in shares of L3Harris Technologies by 2.8% in the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after buying an additional 48 shares in the last quarter. Whitener Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 3.0% during the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock valued at $385,000 after buying an additional 50 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of L3Harris Technologies by 0.6% during the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock valued at $1,996,000 after acquiring an additional 55 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

About L3Harris Technologies

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.