L3Harris Technologies (NYSE:LHX) Given New $250.00 Price Target at Deutsche Bank Aktiengesellschaft

by · The Markets Daily

L3Harris Technologies (NYSE:LHX – Free Report) had its price target decreased by Deutsche Bank Aktiengesellschaft from $252.00 to $250.00 in a research report released on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

A number of other brokerages have also recently commented on LHX. Barclays lifted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an overweight rating to an equal weight rating and lowered their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada lowered shares of L3Harris Technologies from an outperform rating to a sector perform rating and lowered their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Susquehanna lifted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a positive rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $246.54.

Get Our Latest Research Report on LHX

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $243.66 on Thursday. The firm’s fifty day simple moving average is $231.62 and its 200-day simple moving average is $223.66. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 39.56, a PEG ratio of 2.04 and a beta of 0.73. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $247.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 EPS. As a group, equities analysts forecast that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the transaction, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the transaction, the senior vice president now owns 47,616 shares in the company, valued at approximately $10,951,680. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,390 shares of company stock valued at $7,592,959 in the last 90 days. 0.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LHX. Vanguard Group Inc. lifted its holdings in shares of L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares during the period. Wellington Management Group LLP raised its holdings in L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after buying an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC purchased a new position in L3Harris Technologies in the second quarter valued at approximately $210,886,000. Envestnet Asset Management Inc. raised 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 valued at $222,186,000 after buying an additional 695,582 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in L3Harris Technologies by 296.8% in the fourth quarter. Point72 Asset Management L.P. now owns 725,228 shares of the company’s stock valued at $152,748,000 after buying an additional 542,453 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

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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.

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