L3Harris Technologies (NYSE:LHX) Given New $229.00 Price Target at Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX) had its target price cut by Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued reports about the stock. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday. Royal Bank of Canada increased their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company 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 price target for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.73.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $207.36 on Thursday. L3Harris Technologies has a 1-year low of $200.18 and a 1-year 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’s fifty day moving average price is $236.03 and its 200 day moving average price is $233.94. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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 firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that L3Harris Technologies will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LHX. JPMorgan Chase & Co. grew its holdings in L3Harris Technologies by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares in the last quarter. Independent Solutions Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $250,000. Principal Financial Group Inc. grew its holdings in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Copley Financial Group Inc. bought a new position in L3Harris Technologies during the 3rd quarter worth $449,000. Finally, Franklin Resources Inc. increased its position in L3Harris Technologies by 0.6% in the third quarter. Franklin Resources Inc. now owns 218,228 shares of the company’s stock worth $54,171,000 after buying an additional 1,221 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.