L3Harris Technologies (NYSE:LHX) Trading Up 0.3% – Still a Buy?

L3Harris Technologies, Inc. (NYSE:LHX) traded up 0.3% on Monday . The stock traded as high as $225.31 and last traded at $223.75. 185,969 shares were traded during mid-day trading, a decline of 80% from the average session volume of 908,128 shares. The stock had previously closed at $223.16.

Wall Street Analysts Forecast Growth

LHX has been the topic of several analyst reports. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Argus raised shares of 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. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 1.91 and a beta of 0.72. The business has a fifty day simple moving average of $244.28 and a 200-day simple moving average of $234.98.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 2.17%. L3Harris Technologies’s dividend payout ratio is 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LHX. Envestnet Asset Management Inc. increased its holdings in L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after acquiring an additional 171,420 shares in the last quarter. International Assets Investment Management LLC grew its holdings in L3Harris Technologies by 23,627.0% in the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after purchasing an additional 169,878 shares during the period. Finally, Mizuho Markets Americas LLC grew its holdings in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after purchasing an additional 166,262 shares during the period. 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.