L3Harris Technologies (NYSE:LHX) Sets New 52-Week High at $227.71

L3Harris Technologies, Inc. (NYSE:LHX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $227.71 and last traded at $227.52, with a volume of 66068 shares changing hands. The stock had previously closed at $225.51.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. Barclays increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company lifted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $231.80.

L3Harris Technologies Stock Down 0.4 %

The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market cap of $42.61 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 1.89 and a beta of 0.71. The firm’s fifty day simple moving average is $218.45 and its 200 day simple moving average is $212.40.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.86 EPS. Sell-side analysts predict that L3Harris Technologies, Inc. will post 12.93 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $4.64 annualized dividend and a dividend yield of 2.07%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Transactions at L3Harris Technologies

In other news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the sale, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total value of $5,627,750.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares in the company, valued at $3,823,720. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,898 shares of company stock worth $18,558,167. 0.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently bought and sold shares of the company. HM Payson & Co. increased its stake in L3Harris Technologies by 59.5% in the 1st quarter. HM Payson & Co. now owns 384,940 shares of the company’s stock valued at $82,031,000 after buying an additional 143,629 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of L3Harris Technologies by 5.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 20,369 shares of the company’s stock worth $4,341,000 after purchasing an additional 1,051 shares during the period. Maxwell Wealth Strategies Inc. acquired a new position in shares of L3Harris Technologies during the 1st quarter worth $1,391,000. Pathway Financial Advisers LLC acquired a new position in shares of L3Harris Technologies during the 1st quarter worth $729,000. Finally, Boston Partners grew its stake in shares of L3Harris Technologies by 18.5% during the 1st quarter. Boston Partners now owns 964,243 shares of the company’s stock worth $205,484,000 after purchasing an additional 150,685 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

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.