L3Harris Technologies (NYSE:LHX) Trading Up 0.3% – Still a Buy?

L3Harris Technologies, Inc. (NYSE:LHX) rose 0.3% on Monday . The company traded as high as $225.31 and last traded at $223.75. Approximately 185,969 shares changed hands during trading, a decline of 80% from the average daily volume of 908,128 shares. The stock had previously closed at $223.16.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” 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 target price on the stock in a research note on Thursday, October 10th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $42.11 billion, a P/E ratio of 35.35, a P/E/G ratio of 1.91 and a beta of 0.72. The stock has a 50 day moving average of $245.13 and a 200 day moving average of $235.00.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating 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 company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 worth $222,186,000 after purchasing an additional 695,582 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after acquiring an additional 171,420 shares in the last quarter. International Assets Investment Management LLC grew its position in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after purchasing an additional 169,878 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in L3Harris Technologies by 25.3% during the 3rd 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 during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

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.