Susquehanna Cuts L3Harris Technologies (NYSE:LHX) Price Target to $258.00

L3Harris Technologies (NYSE:LHX) had its target price decreased by Susquehanna from $300.00 to $258.00 in a report released on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

A number of other analysts have also recently commented on the company. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada upped their price objective on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Truist Financial upped their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.31.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $208.20 on Wednesday. The company has a 50 day simple moving average of $231.09 and a two-hundred day simple moving average of $233.24. The stock has a market cap of $39.49 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 1.86 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data 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 business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. As a group, analysts predict that L3Harris Technologies will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank purchased a new position in L3Harris Technologies in the 3rd quarter valued at $36,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter worth $57,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of L3Harris Technologies in the third quarter valued at about $64,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.