L3Harris Technologies (NYSE:LHX) Trading Up 0.4% – Should You Buy?

L3Harris Technologies, Inc. (NYSE:LHX)’s stock price traded up 0.4% during trading on Wednesday . The company traded as high as $247.48 and last traded at $246.45. 172,018 shares traded hands during trading, a decline of 81% from the average session volume of 906,831 shares. The stock had previously closed at $245.58.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Truist Financial lifted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $269.67.

L3Harris Technologies Stock Performance

The stock has a market cap of $46.53 billion, a PE ratio of 38.76, a P/E/G ratio of 2.05 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a 50-day simple moving average of $245.96 and a 200-day simple moving average of $233.88.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business earned $3.19 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 8,964 shares of company stock worth $2,179,119. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of L3Harris Technologies by 0.6% in the third quarter. Franklin Resources Inc. now owns 218,228 shares of the company’s stock valued at $54,171,000 after purchasing an additional 1,221 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in L3Harris Technologies by 0.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock worth $9,890,000 after buying an additional 194 shares in the last quarter. Synovus Financial Corp boosted its position in L3Harris Technologies by 17.5% in the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock valued at $1,602,000 after buying an additional 1,003 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of L3Harris Technologies during the third quarter valued at about $1,704,000. Finally, World Investment Advisors LLC increased its position in shares of L3Harris Technologies by 220.3% during the third quarter. World Investment Advisors LLC now owns 32,580 shares of the company’s stock worth $7,750,000 after acquiring an additional 22,407 shares during the last quarter. 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.