L3Harris Technologies (NYSE:LHX) Given New $279.00 Price Target at Truist Financial

L3Harris Technologies (NYSE:LHX - Free Report) had its target price increased by Truist Financial from $260.00 to $279.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently commented on LHX. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective 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. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. Finally, Citigroup increased their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $259.94.

L3Harris Technologies Stock Down 0.2%

L3Harris Technologies stock traded down $0.50 during trading on Friday, hitting $259.60. 954,594 shares of the company were exchanged, compared to its average volume of 1,158,524. The company has a market capitalization of $48.53 billion, a P/E ratio of 30.79, a PEG ratio of 2.03 and a beta of 0.75. The business's 50 day moving average is $242.10 and its 200 day moving average is $221.74. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its 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. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $3.06 EPS. The business's revenue was down 1.5% compared to the same quarter last year. Analysts predict that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity at L3Harris Technologies

In other 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 transaction, the chief executive officer owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider owned 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. Corporate insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the first quarter worth about $26,000. Millstone Evans Group LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in shares of L3Harris Technologies during the 1st quarter valued at about $26,000. Finally, Beacon Capital Management LLC raised its holdings in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. 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.