Citigroup Boosts L3Harris Technologies (NYSE:LHX) Price Target to $291.00

L3Harris Technologies (NYSE:LHX) had its price objective upped by Citigroup from $268.00 to $291.00 in a research note issued to investors on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on LHX. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a positive rating in a report on Monday, July 29th. Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Wolfe Research upgraded L3Harris Technologies from a peer perform rating to an outperform rating and set a $300.00 price target on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $252.00 to $250.00 and set a hold rating for the company in a research report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $253.64.

L3Harris Technologies Stock Up 1.5 %

LHX stock opened at $246.04 on Thursday. The stock has a market capitalization of $46.68 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company has a 50-day moving average of $233.12 and a two-hundred day moving average of $224.65. L3Harris Technologies has a 52-week low of $169.55 and a 52-week high of $247.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed 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 was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. L3Harris Technologies’s payout ratio is presently 74.24%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. 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 accessible through this link. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 21,863 shares of company stock valued at $5,171,749. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LHX. Iams Wealth Management LLC lifted its holdings in L3Harris Technologies by 2.2% during the 3rd quarter. Iams Wealth Management LLC now owns 9,098 shares of the company’s stock worth $2,164,000 after buying an additional 197 shares in the last quarter. Creative Planning raised its position in shares of L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after acquiring an additional 512 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of L3Harris Technologies by 62.6% during the third quarter. Wesbanco Bank Inc. now owns 6,784 shares of the company’s stock valued at $1,614,000 after acquiring an additional 2,611 shares during the period. Fiduciary Alliance LLC bought a new position in L3Harris Technologies in the third quarter valued at about $472,000. Finally, Novare Capital Management LLC increased its position in L3Harris Technologies by 7.1% in the third quarter. Novare Capital Management LLC now owns 43,246 shares of the company’s stock worth $10,287,000 after purchasing an additional 2,868 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.