L3Harris Technologies (NYSE:LHX) PT Raised to $245.00 at Wells Fargo & Company

L3Harris Technologies (NYSE:LHX - Free Report) had its price target upped by Wells Fargo & Company from $238.00 to $245.00 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

LHX has been the topic of several other research reports. Royal Bank of Canada increased their price objective on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a research note on Monday, April 29th. StockNews.com cut L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Citigroup upped their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a buy rating in a research note on Tuesday, February 13th. 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. Finally, Barclays increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an overweight rating in a report on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $231.80.

L3Harris Technologies Stock Up 0.5 %

Shares of NYSE:LHX traded up $1.17 during trading on Tuesday, reaching $215.92. 922,844 shares of the stock traded hands, compared to its average volume of 1,115,163. The stock has a market cap of $40.96 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock has a 50-day moving average of $210.24 and a two-hundred day moving average of $203.13. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its 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. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. The company's revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business posted $2.86 EPS. As a group, sell-side analysts expect that L3Harris Technologies will post 12.91 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies's dividend payout ratio is currently 75.32%.

Insider Activity

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the transaction, the director now directly owns 1,543 shares of the company's stock, valued at approximately $332,285.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares in the company, valued at approximately $6,057,346.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Swanson bought 1,250 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company's stock, valued at $332,285.05. The disclosure for this purchase can be found here. In the last quarter, insiders sold 48,362 shares of company stock worth $10,261,360. Insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Verdence Capital Advisors LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth about $209,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in L3Harris Technologies by 8.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,161 shares of the company's stock worth $8,386,000 after acquiring an additional 3,779 shares during the last quarter. Strs Ohio raised its stake in L3Harris Technologies by 4.4% during the 3rd quarter. Strs Ohio now owns 175,800 shares of the company's stock valued at $30,610,000 after acquiring an additional 7,395 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of L3Harris Technologies by 9.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 19,684 shares of the company's stock valued at $3,427,000 after purchasing an additional 1,672 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of L3Harris Technologies in the third quarter valued at approximately $645,000. Hedge funds and other 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.