L3Harris Technologies (NYSE:LHX) Trading 0.1% Higher – Still a Buy?

Shares of L3Harris Technologies, Inc. (NYSE:LHX) rose 0.1% during mid-day trading on Tuesday . The stock traded as high as $230.84 and last traded at $229.93. Approximately 138,461 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 906,612 shares. The stock had previously closed at $229.76.

Analysts Set New Price Targets

LHX has been the subject of several research analyst reports. Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Stock Down 0.8 %

The company has a market capitalization of $43.41 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The firm’s 50 day moving average price is $245.92 and its two-hundred day moving average price is $234.83. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 EPS. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 2.03%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wedmont Private Capital acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $231,000. Diversified Trust Co acquired a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $247,000. Wealth Enhancement Advisory Services LLC grew its position in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock worth $9,845,000 after purchasing an additional 6,634 shares in the last quarter. ORG Partners LLC grew its position in shares of L3Harris Technologies by 1,652.4% during the 2nd quarter. ORG Partners LLC now owns 368 shares of the company’s stock worth $82,000 after purchasing an additional 347 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of L3Harris Technologies by 6.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 38,442 shares of the company’s stock worth $8,633,000 after purchasing an additional 2,489 shares in the last quarter. Institutional investors and hedge funds 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.