Deutsche Bank Aktiengesellschaft Has Lowered Expectations for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently commented on LHX. Citigroup upped their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. 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. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.73.

L3Harris Technologies Price Performance

NYSE:LHX opened at $209.75 on Thursday. The stock has a market cap of $39.78 billion, a P/E ratio of 33.14, a PEG ratio of 1.86 and a beta of 0.72. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. The company has a fifty day moving average price of $235.18 and a 200 day moving average price of $233.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 EPS. Analysts anticipate that L3Harris Technologies will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,889 shares of company stock valued at $1,800,572 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LHX. Envestnet Asset Management Inc. lifted its position in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the period. JPMorgan Chase & Co. raised its position in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares during the period. International Assets Investment Management LLC raised its position in shares of L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after acquiring an additional 169,878 shares during the period. Finally, Mizuho Markets Americas LLC raised its position in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.