L3Harris Technologies (NYSE:LHX) Shares Up 1.1% - What's Next?

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) shares were up 1.1% during trading on Monday . The stock traded as high as $249.69 and last traded at $249.73. Approximately 169,831 shares changed hands during trading, a decline of 85% from the average daily volume of 1,141,741 shares. The stock had previously closed at $246.98.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent analyst reports. UBS Group upped their price objective 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. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and raised their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup boosted their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Jefferies Financial Group reduced their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Stock Performance

The stock's fifty day simple moving average is $234.39 and its 200-day simple moving average is $218.99. The company has a market capitalization of $46.65 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. L3Harris Technologies's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $3.06 earnings per share. Analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Activity

In other news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares of the company's stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. LaFleur & Godfrey LLC increased its holdings in L3Harris Technologies by 58.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock valued at $5,635,000 after purchasing an additional 9,873 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares during the period. QRG Capital Management Inc. increased its stake in L3Harris Technologies by 7.7% during the 4th quarter. QRG Capital Management Inc. now owns 3,233 shares of the company's stock worth $680,000 after buying an additional 232 shares during the period. Metis Global Partners LLC increased its position in shares of L3Harris Technologies by 5.1% during the fourth quarter. Metis Global Partners LLC now owns 6,371 shares of the company's stock worth $1,340,000 after acquiring an additional 310 shares during the last quarter. Finally, Richard W. Paul & Associates LLC boosted its holdings in L3Harris Technologies by 8,000.0% in the fourth quarter. Richard W. Paul & Associates LLC now owns 405 shares of the company's stock valued at $85,000 after purchasing an additional 400 shares during the last quarter. 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.

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