L3Harris Technologies (NYSE:LHX) Price Target Raised to $250.00 at Jefferies Financial Group

L3Harris Technologies (NYSE:LHX) had its price target boosted by Jefferies Financial Group from $235.00 to $250.00 in a research note published on Monday, Analyst Price Targets reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on LHX. The Goldman Sachs Group restated a neutral rating and issued a $208.00 price target on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Robert W. Baird cut L3Harris Technologies from an outperform rating to a neutral rating and cut their target price for the stock from $242.00 to $210.00 in a research report on Thursday, January 7th. Morgan Stanley cut their target price on L3Harris Technologies from $235.00 to $226.00 and set an overweight rating for the company in a research report on Monday, February 8th. Benchmark reiterated a hold rating on shares of L3Harris Technologies in a research report on Monday. Finally, Cowen reiterated a buy rating and set a $210.00 target price on shares of L3Harris Technologies in a research report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $226.21.

Shares of LHX opened at $211.74 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $204.51 and a two-hundred day simple moving average of $189.69. The stock has a market cap of $43.53 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 0.96 and a beta of 0.80. L3Harris Technologies has a 52 week low of $158.09 and a 52 week high of $213.00.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Friday, April 30th. The company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.26. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.62 billion. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.80 earnings per share. On average, equities analysts anticipate that L3Harris Technologies will post 11.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, May 28th. L3Harris Technologies’s payout ratio is 40.48%.

Several large investors have recently bought and sold shares of the company. Kestra Advisory Services LLC lifted its stake in shares of L3Harris Technologies by 9,581.3% during the 4th quarter. Kestra Advisory Services LLC now owns 7,261 shares of the company’s stock worth $1,363,000 after acquiring an additional 7,186 shares during the last quarter. Narwhal Capital Management lifted its stake in shares of L3Harris Technologies by 27.8% during the 4th quarter. Narwhal Capital Management now owns 48,341 shares of the company’s stock worth $9,137,000 after acquiring an additional 10,522 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of L3Harris Technologies by 465.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,420 shares of the company’s stock worth $8,018,000 after acquiring an additional 34,920 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in L3Harris Technologies during the 4th quarter worth $30,000. Finally, Bahl & Gaynor Inc. increased its holdings in L3Harris Technologies by 34.6% during the 4th quarter. Bahl & Gaynor Inc. now owns 196,106 shares of the company’s stock worth $37,068,000 after purchasing an additional 50,437 shares during the period. 80.58% of the stock is owned by institutional investors and hedge funds.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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