Deutsche Bank Aktiengesellschaft Downgrades L3Harris Technologies (NYSE:LHX) to Hold

Deutsche Bank Aktiengesellschaft downgraded shares of L3Harris Technologies (NYSE:LHX) from a buy rating to a hold rating in a report published on Friday, MarketBeat reports. The brokerage currently has $257.00 price objective on the stock, up from their prior price objective of $245.00.

A number of other research firms also recently commented on LHX. Wells Fargo & Company increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an overweight rating in a report on Tuesday, May 7th. Alembic Global Advisors upgraded L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 price objective on the stock in a report on Monday, April 22nd. Barclays increased their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an overweight rating in a report on Tuesday, April 30th. Royal Bank of Canada increased their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an outperform rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $235.25.

L3Harris Technologies Price Performance

NYSE LHX opened at $224.78 on Friday. The company has a 50 day simple moving average of $226.23 and a 200-day simple moving average of $216.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market capitalization of $42.64 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the firm earned $2.97 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies will post 12.99 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 2.06%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the completion of the transaction, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,312 shares of company stock worth $24,712,822. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LHX. Bfsg LLC bought a new position in shares of L3Harris Technologies during the first quarter valued at $25,000. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at $28,000. EntryPoint Capital LLC lifted its holdings in shares of L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the period. Blue Trust Inc. increased its stake in shares of L3Harris Technologies by 178.7% in the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its stake in shares of L3Harris Technologies by 80.6% in the fourth quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares in the last quarter. 84.76% of the stock is owned by 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.