Analysts Set L3Harris Technologies, Inc. (NYSE:LHX) Price Target at $256.56

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $256.56.

LHX has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Citigroup dropped their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company's stock, valued at $632,122. This trade represents a 53.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,961 shares of company stock worth $1,585,297 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

A number of large investors have recently added to or reduced their stakes in LHX. BankPlus Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $409,000. Empowered Funds LLC raised its stake in shares of L3Harris Technologies by 24.3% in the fourth quarter. Empowered Funds LLC now owns 19,735 shares of the company's stock valued at $4,150,000 after buying an additional 3,852 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of L3Harris Technologies by 51.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,320 shares of the company's stock valued at $3,011,000 after buying an additional 4,890 shares during the period. Novare Capital Management LLC grew its stake in shares of L3Harris Technologies by 6.2% during the 4th quarter. Novare Capital Management LLC now owns 45,934 shares of the company's stock worth $9,659,000 after acquiring an additional 2,688 shares during the period. Finally, Van ECK Associates Corp increased its holdings in L3Harris Technologies by 1,015.9% in the 4th quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock worth $2,781,000 after acquiring an additional 12,039 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 0.4%

Shares of NYSE LHX traded down $1.05 during trading on Friday, reaching $243.33. The company had a trading volume of 2,080,168 shares, compared to its average volume of 1,092,155. The stock has a market cap of $45.49 billion, a P/E ratio of 30.92, a PEG ratio of 2.42 and a beta of 0.72. The company's fifty day moving average price is $219.62 and its 200-day moving average price is $218.64. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is 56.94%.

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.