L3Harris Technologies (NYSE:LHX) Price Target Lowered to $250.00 at Jefferies Financial Group

L3Harris Technologies (NYSE:LHX) had its target price lowered by Jefferies Financial Group from $260.00 to $250.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on LHX. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $260.69.

L3Harris Technologies Stock Up 0.8 %

Shares of LHX opened at $209.35 on Monday. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $265.74. The stock has a fifty day moving average of $209.16 and a 200-day moving average of $225.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a market capitalization of $39.30 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, sell-side analysts anticipate that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is 60.99%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several large investors have recently modified their holdings of the business. Townsquare Capital LLC raised its holdings in L3Harris Technologies by 18.5% during the 3rd quarter. Townsquare Capital LLC now owns 3,502 shares of the company’s stock valued at $833,000 after acquiring an additional 547 shares during the period. Public Sector Pension Investment Board grew its position in shares of L3Harris Technologies by 15.3% in the third quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company’s stock valued at $1,976,000 after purchasing an additional 1,100 shares in the last quarter. Financial Counselors Inc. bought a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $214,000. Verition Fund Management LLC lifted its holdings in L3Harris Technologies by 3.2% during the 3rd quarter. Verition Fund Management LLC now owns 22,225 shares of the company’s stock worth $5,287,000 after purchasing an additional 696 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in L3Harris Technologies in the 3rd quarter worth about $489,000. Hedge funds and other 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.