L3Harris Technologies (NYSE:LHX) Hits New 12-Month High at $218.57

L3Harris Technologies, Inc. (NYSE:LHX)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $218.57 and last traded at $218.23, with a volume of 97602 shares traded. The stock had previously closed at $215.81.

Wall Street Analyst Weigh In

LHX has been the subject of several recent research reports. UBS Group increased their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a research note on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Barclays raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company upped their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Stock Performance

The company has a market cap of $41.51 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The stock’s fifty day moving average price is $210.32 and its two-hundred day moving average price is $203.41.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the firm posted $2.86 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts predict that L3Harris Technologies, Inc. will post 12.91 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s payout ratio is currently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott T. Mikuen sold 3,363 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $212.86, for a total value of $715,848.18. Following the transaction, the senior vice president now directly owns 55,254 shares of the company’s stock, valued at approximately $11,761,366.44. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock worth $10,261,360 in the last quarter. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently bought and sold shares of the business. Bfsg LLC purchased a new position in L3Harris Technologies during the 1st quarter worth $25,000. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies in the 4th quarter worth approximately $28,000. KB Financial Partners LLC grew its holdings in shares of L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after buying an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of L3Harris Technologies in the third quarter valued at about $35,000. Finally, Blue Trust Inc. boosted its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after acquiring an additional 109 shares during the last quarter. Institutional investors 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.