L3Harris Technologies (NYSE:LHX) PT Raised to $250.00 at JPMorgan Chase & Co.

L3Harris Technologies (NYSE:LHX) had its price objective upped by JPMorgan Chase & Co. from $240.00 to $250.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on LHX. Wells Fargo & Company lowered their target price on L3Harris Technologies from $250.00 to $238.00 and set an overweight rating on the stock in a research note on Tuesday, January 30th. UBS Group upped their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a neutral rating in a research note on Monday, January 29th. StockNews.com lowered shares of L3Harris Technologies from a buy rating to a hold rating in a research note on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada increased their price objective on L3Harris Technologies from $245.00 to $250.00 and gave the stock an outperform rating in a report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $231.33.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $212.24 on Wednesday. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34. The stock has a market capitalization of $40.26 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.88 and a beta of 0.63. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $210.18 and its 200 day simple moving average is $202.54.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the company earned $2.86 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, sell-side analysts forecast that L3Harris Technologies will post 12.91 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.19%. L3Harris Technologies’s payout ratio is presently 75.32%.

Insider Buying and Selling

In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. In related news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the completion of the transaction, the insider now directly owns 28,644 shares in the company, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 in the last quarter. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bfsg LLC acquired a new stake in L3Harris Technologies during the first quarter worth about $25,000. Transcendent Capital Group LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $28,000. KB Financial Partners LLC raised its position in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares in the last quarter. New England Capital Financial Advisors LLC bought a new stake in L3Harris Technologies in the third quarter valued at $35,000. Finally, Blue Trust Inc. raised its stake in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after acquiring an additional 109 shares in the last quarter. 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.