L3Harris Technologies (NYSE:LHX) Rating Increased to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of L3Harris Technologies (NYSE:LHX) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have $267.00 price objective on the stock, down from their previous price objective of $289.00.

LHX has been the topic of several other reports. Royal Bank of Canada upped their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Citigroup upped their price target on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and twelve have assigned 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 an average price target of $266.31.

L3Harris Technologies Stock Performance

NYSE LHX opened at $207.09 on Wednesday. The company’s fifty day moving average is $232.69 and its two-hundred day moving average is $233.54. 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. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 1.86 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts forecast that L3Harris Technologies will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,889 shares of company stock valued at $1,800,572 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

A number of institutional investors have recently made changes to their positions in LHX. Envestnet Asset Management Inc. increased its stake in L3Harris Technologies by 236.8% in the 2nd 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 last quarter. JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after acquiring an additional 178,407 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after acquiring an additional 171,420 shares in the last quarter. International Assets Investment Management LLC boosted its position in L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its stake in L3Harris Technologies by 25.3% in the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 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.