L3Harris Technologies (NYSE:LHX) Price Target Lowered to $255.00 at Barclays

L3Harris Technologies (NYSE:LHX) had its price objective decreased by Barclays from $290.00 to $255.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently commented on LHX. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Citigroup raised their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.07.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $203.95 on Monday. The firm has a market capitalization of $38.68 billion, a P/E ratio of 32.22, a P/E/G ratio of 1.86 and a beta of 0.75. The stock has a fifty day moving average price of $234.29 and a two-hundred day moving average price of $233.89. L3Harris Technologies has a 52-week low of $200.18 and a 52-week high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results 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. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 EPS. As a group, analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.28%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several large investors have recently bought and sold shares of LHX. OneDigital Investment Advisors LLC boosted its position in shares of L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after acquiring an additional 42 shares in the last quarter. Blossom Wealth Management increased its holdings in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after acquiring an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after acquiring an additional 43 shares in the last quarter. Finally, Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after purchasing an additional 43 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.