L3Harris Technologies (NYSE:LHX) Hits New 1-Year High at $222.59

Shares of L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $222.59 and last traded at $222.40, with a volume of 39063 shares. The stock had previously closed at $221.13.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a "neutral" rating to an "overweight" rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 1st. Citigroup boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Finally, Raymond James increased their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $231.80.

L3Harris Technologies Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The firm's fifty day moving average price is $210.97 and its 200-day moving average price is $205.00. The company has a market cap of $42.13 billion, a P/E ratio of 36.05, a P/E/G ratio of 1.85 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. The firm had revenue of $5.21 billion during the quarter, compared to analysts' expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.86 EPS. As a group, research analysts forecast that L3Harris Technologies, Inc. will post 12.92 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies's dividend payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now owns 58,617 shares of the company's stock, valued at $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of the business's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last three months, insiders sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company's stock.

Institutional Trading of L3Harris Technologies

Hedge funds have recently modified their holdings of the company. Bfsg LLC bought a new position in L3Harris Technologies in the 1st quarter valued at $25,000. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies during the 4th quarter worth about $28,000. KB Financial Partners LLC increased its position in L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company's stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies in the 3rd quarter worth approximately $35,000. Finally, Blue Trust Inc. lifted its holdings in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company's stock worth $36,000 after buying an additional 109 shares in the last quarter. Institutional investors and hedge funds 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.