L3Harris Technologies (NYSE:LHX) Given New $265.00 Price Target at Royal Bank of Canada

L3Harris Technologies (NYSE:LHX) had its price target increased by Royal Bank of Canada from $240.00 to $265.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also weighed in on LHX. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Finally, Susquehanna raised their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $247.47 on Monday. The firm has a market cap of $46.95 billion, a P/E ratio of 40.17, a P/E/G ratio of 2.10 and a beta of 0.73. The stock’s 50 day moving average is $238.37 and its 200 day moving average is $228.37. 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 has a one year low of $176.15 and a one year high of $258.89.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the firm posted $3.19 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of L3Harris Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after purchasing an additional 45,845 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after buying an additional 27,763 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in L3Harris Technologies by 2.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after buying an additional 31,686 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.