L3Harris Technologies (NYSE:LHX) Rating Increased to Overweight at Alembic Global Advisors

Alembic Global Advisors upgraded shares of L3Harris Technologies (NYSE:LHX - Free Report) from a neutral rating to an overweight rating in a report published on Monday, MarketBeat Ratings reports. The brokerage currently has $238.00 price target on the stock.

Several other research analysts also recently weighed in on LHX. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an outperform rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a neutral rating to an overweight rating and set a $240.00 target price for the company in a research report on Thursday, January 11th. Citigroup upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company a buy rating in a research report on Tuesday, February 13th. StockNews.com lowered L3Harris Technologies from a buy rating to a hold rating in a research report on Monday, January 29th. Finally, Raymond James upped their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an outperform rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $229.60.

L3Harris Technologies Price Performance

LHX stock traded up $2.69 on Monday, hitting $208.14. 927,589 shares of the company's stock traded hands, compared to its average volume of 1,117,539. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock has a market cap of $39.57 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 1.91 and a beta of 0.65. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $218.34. The stock has a fifty day moving average of $210.30 and a 200-day moving average of $200.31.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same period in the previous year, the firm posted $3.27 EPS. The company's quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts forecast that L3Harris Technologies will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.23%. L3Harris Technologies's dividend payout ratio (DPR) is presently 72.05%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was 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 of the company's stock, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company's stock in a transaction dated 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 directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction that occurred 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 directly owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,362 shares of company stock valued at $10,261,360. Corporate insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LHX. Transcendent Capital Group LLC bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at $28,000. KB Financial Partners LLC lifted its position in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company's stock valued at $29,000 after buying an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in L3Harris Technologies during the third quarter worth $35,000. Blue Trust Inc. boosted its holdings in shares of 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 during the period. Finally, Washington Trust Advisors Inc. grew its position in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company's stock valued at $37,000 after purchasing an additional 79 shares during the last quarter. Institutional investors 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.