L3Harris Technologies (NYSE:LHX) Trading 2.1% Higher - Time to Buy?

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) shares traded up 2.1% during mid-day trading on Friday . The stock traded as high as $256.16 and last traded at $255.75. 1,064,232 shares changed hands during trading, a decline of 4% from the average session volume of 1,112,689 shares. The stock had previously closed at $250.39.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Citigroup boosted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. 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. Jefferies Financial Group cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, UBS Group increased their target price on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Trading Up 2.7%

The firm has a market capitalization of $48.06 billion, a price-to-earnings ratio of 32.66, 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. The firm's 50-day simple moving average is $227.95 and its 200 day simple moving average is $218.27.

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LHX. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the first quarter valued at $26,000. Millstone Evans Group LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies during the first quarter valued at $26,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the fourth quarter valued at $27,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.