L3Harris Technologies Sees Unusually High Options Volume (NYSE:LHX)

L3Harris Technologies, Inc. (NYSE:LHX) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 2,413 call options on the company. This represents an increase of 182% compared to the average daily volume of 857 call options.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research reports. Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Truist Financial lifted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Finally, Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Up 0.8 %

Shares of NYSE:LHX opened at $247.47 on Friday. The firm has a market cap of $46.95 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The company has a fifty day simple moving average of $238.37 and a 200 day simple moving average of $228.37. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies has a 12-month low of $176.15 and a 12-month high of $258.89.

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 the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.19 EPS. On average, equities research analysts anticipate that L3Harris Technologies will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors have recently made changes to their positions in the company. Koshinski Asset Management Inc. lifted its holdings in L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after acquiring an additional 42 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares during the last quarter. Blossom Wealth Management lifted its holdings in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the period. Finally, Optas LLC grew its stake in L3Harris Technologies by 3.3% during the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after buying an additional 44 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.