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

Alembic Global Advisors upgraded shares of L3Harris Technologies (NYSE:LHX) from a neutral rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. Alembic Global Advisors currently has $238.00 target price on the stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an overweight rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada raised their target price on L3Harris Technologies from $235.00 to $245.00 and gave the stock an outperform rating in a 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 on the stock in a report on Thursday, January 11th. StockNews.com lowered L3Harris Technologies from a buy rating to a hold rating in a report on Monday, January 29th. Finally, Raymond James raised their target price on L3Harris Technologies from $220.00 to $235.00 and gave the stock an outperform rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of Moderate Buy and a consensus target price of $229.60.

L3Harris Technologies Trading Up 0.0 %

Shares of NYSE:LHX opened at $207.71 on Monday. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a market cap of $39.49 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 1.93 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $210.19 and a 200-day moving average price of $200.99.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business posted $3.27 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies will post 12.73 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed 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 2.23%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 72.05%.

Insider Buying and Selling at L3Harris Technologies

In other news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated 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 completion of the purchase, 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 legal filing with the SEC, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 1,292 shares of L3Harris Technologies stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, 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. Over the last three months, insiders have sold 48,362 shares of company stock valued at $10,261,360. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in L3Harris Technologies by 52.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 54,436 shares of the company’s stock worth $11,600,000 after buying an additional 18,754 shares in the last quarter. Leavell Investment Management Inc. lifted its position in L3Harris Technologies by 42.6% during the first quarter. Leavell Investment Management Inc. now owns 8,363 shares of the company’s stock worth $1,782,000 after buying an additional 2,500 shares in the last quarter. CENTRAL TRUST Co lifted its position in L3Harris Technologies by 1.6% during the first quarter. CENTRAL TRUST Co now owns 4,106 shares of the company’s stock worth $875,000 after buying an additional 66 shares in the last quarter. Dakota Wealth Management lifted its position in L3Harris Technologies by 9.6% during the first quarter. Dakota Wealth Management now owns 27,056 shares of the company’s stock worth $5,766,000 after buying an additional 2,360 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in L3Harris Technologies during the first quarter worth approximately $576,000. 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.