Deutsche Bank Aktiengesellschaft Cuts L3Harris Technologies (NYSE:LHX) Price Target to $229.00

L3Harris Technologies (NYSE:LHX) had its price target cut by Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a report published on Thursday,Benzinga reports. They currently have a hold rating on the stock.

LHX has been the topic of a number of other reports. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.73.

L3Harris Technologies Stock Up 1.2 %

LHX stock opened at $209.75 on Thursday. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74. The company has a market capitalization of $39.78 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72. The firm’s 50-day moving average is $235.18 and its two-hundred day moving average is $233.87. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

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

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is presently 73.30%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 7,889 shares of company stock valued at $1,800,572 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several large investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Archer Investment Corp lifted its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies in the third quarter worth $36,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies in the second quarter worth $57,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth $64,000. 84.76% of the stock is 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.