L3Harris Technologies (NYSE:LHX) Given New $305.00 Price Target at Barclays

Key Points

• Barclays has increased its price target for L3Harris Technologies from $255.00 to $305.00, reflecting a potential upside of 12.50% based on the stock's recent closing price.
• Despite mixed ratings from other research firms, L3Harris Technologies maintains a consensus rating of "Moderate Buy" with an average price target of $279.47.
• In its latest earnings report, L3Harris Technologies reported an EPS of $2.78, surpassing estimates and showing 2.4% growth in revenue year-over-year.

L3Harris Technologies (NYSE:LHX - Free Report) had its price target lifted by Barclays from $255.00 to $305.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

LHX has been the topic of a number of other reports. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Citigroup raised their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Truist Financial raised their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Stock Performance

Shares of LHX traded down $0.73 during trading hours on Tuesday, hitting $274.09. The company had a trading volume of 228,191 shares, compared to its average volume of 1,446,742. The firm has a market cap of $51.28 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.12 and a beta of 0.75. The business has a fifty day moving average of $254.26 and a 200-day moving average of $227.38. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $280.03. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the firm earned $3.24 earnings per share. L3Harris Technologies's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 annualized dividend and a yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is presently 53.63%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at $39,472,018.92. This represents a 33.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,061 shares of company stock valued at $28,227,077. Company insiders own 0.72% of the company's stock.

Institutional Trading of L3Harris Technologies

Hedge funds have recently modified their holdings of the stock. Kiker Wealth Management LLC increased its stake in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies during the 1st quarter valued at $26,000. Finally, Harbor Asset Planning Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at $32,000. Institutional investors own 84.76% of the company's stock.

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.