L3Harris Technologies (NYSE:LHX) Stock Rating Upgraded by Alembic Global Advisors

Alembic Global Advisors upgraded shares of L3Harris Technologies (NYSE:LHX) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat reports. They currently have $238.00 price objective on the stock.

Several other analysts also recently commented on the company. Raymond James upped their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 target price on the stock in a research report on Thursday, January 11th. Citigroup boosted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. UBS Group boosted their target price on L3Harris Technologies from $222.00 to $229.00 and gave the stock a neutral rating in a research report on Monday, January 29th. Finally, StockNews.com cut L3Harris Technologies from a buy rating to a hold rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $229.60.

L3Harris Technologies Stock Down 0.2 %

LHX opened at $207.36 on Monday. The business has a 50 day moving average price of $210.11 and a two-hundred day moving average price of $201.04. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market cap of $39.42 billion, a PE ratio of 32.20, a P/E/G ratio of 1.93 and a beta of 0.65. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $218.34.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 EPS. As a group, research analysts anticipate that L3Harris Technologies will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 over the last three months. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently bought and sold shares of LHX. Vontobel Holding Ltd. lifted its holdings in L3Harris Technologies by 15.4% in the third quarter. Vontobel Holding Ltd. now owns 1,285 shares of the company’s stock worth $224,000 after acquiring an additional 171 shares during the last quarter. CWM LLC raised its holdings in shares of L3Harris Technologies by 8.2% during the third quarter. CWM LLC now owns 5,406 shares of the company’s stock valued at $941,000 after buying an additional 408 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $411,000. Arkadios Wealth Advisors raised its holdings in shares of L3Harris Technologies by 24.5% during the third quarter. Arkadios Wealth Advisors now owns 1,505 shares of the company’s stock valued at $262,000 after buying an additional 296 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 19.2% during the third quarter. HB Wealth Management LLC now owns 2,438 shares of the company’s stock valued at $425,000 after buying an additional 393 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.