L3Harris Technologies (NYSE:LHX) Price Target Raised to $280.00 at Citigroup

L3Harris Technologies (NYSE:LHX - Free Report) had its price target lifted by Citigroup from $245.00 to $280.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group increased their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research report on Monday, April 28th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $258.75.

L3Harris Technologies Price Performance

Shares of NYSE:LHX traded up $3.55 on Monday, reaching $250.22. 1,335,459 shares of the company traded hands, compared to its average volume of 1,112,475. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The company's 50 day moving average is $225.81 and its 200-day moving average is $218.31. The stock has a market capitalization of $46.78 billion, a PE ratio of 31.79, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

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

L3Harris Technologies Announces Dividend

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

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 2,000 shares of the 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 transaction, the insider now owns 25,325 shares of the company's stock, valued at approximately $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 accessible through this link. Insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of L3Harris Technologies by 1.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company's stock valued at $2,058,151,000 after acquiring an additional 181,550 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock valued at $1,074,208,000 after acquiring an additional 557,610 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock valued at $1,004,418,000 after acquiring an additional 53,787 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of L3Harris Technologies by 5.0% during the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company's stock valued at $491,323,000 after acquiring an additional 112,271 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.