L3Harris Technologies (NYSE:LHX) Price Target Lowered to $258.00 at Susquehanna

L3Harris Technologies (NYSE:LHX) had its target price lowered by Susquehanna from $300.00 to $258.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other analysts have also recently commented on the company. Barclays reduced their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $266.31.

L3Harris Technologies Stock Up 2.0 %

Shares of NYSE LHX opened at $207.09 on Wednesday. L3Harris Technologies has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market cap of $39.28 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a 50 day simple moving average of $232.69 and a 200 day simple moving average of $233.54.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates 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 was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 earnings per share. On average, research analysts forecast that L3Harris Technologies will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on 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 $2,563,596.20. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last three months. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies during the third quarter valued at approximately $36,000. Ashton Thomas Private Wealth LLC purchased a new stake in L3Harris Technologies in the second quarter worth $57,000. Finally, Ashton Thomas Securities LLC purchased a new position in L3Harris Technologies during the 3rd quarter valued at $64,000. 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.