L3Harris Technologies (NYSE:LHX) Trading Up 1.5% - Time to Buy?

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) shares traded up 1.5% during mid-day trading on Monday . The company traded as high as $254.89 and last traded at $253.50. 209,347 shares were traded during trading, a decline of 82% from the average session volume of 1,136,347 shares. The stock had previously closed at $249.67.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. UBS Group lifted their target price on shares of 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 raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Jefferies Financial Group dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Stock Down 1.7%

The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $232.12 and a two-hundred day simple moving average of $218.46. The stock has a market cap of $46.14 billion, a P/E ratio of 29.28, a P/E/G ratio of 2.00 and a beta of 0.74.

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

L3Harris Technologies Announces Dividend

The firm also recently declared 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 1.94%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer now directly owns 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in LHX. D. E. Shaw & Co. Inc. increased its position in L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock valued at $1,488,000 after buying an additional 1,236 shares in the last quarter. Principal Securities Inc. increased its position in L3Harris Technologies by 6.7% during the 4th quarter. Principal Securities Inc. now owns 882 shares of the company's stock valued at $185,000 after buying an additional 55 shares in the last quarter. LaFleur & Godfrey LLC increased its holdings in shares of L3Harris Technologies by 58.3% during the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock valued at $5,635,000 after acquiring an additional 9,873 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at $25,071,000. Finally, Brighton Jones LLC increased its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. 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.