L3Harris Technologies (NYSE:LHX) Upgraded by The Goldman Sachs Group to “Buy” Rating

The Goldman Sachs Group upgraded shares of L3Harris Technologies (NYSE:LHX) from a sell rating to a buy rating in a research note published on Friday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $263.00 price objective on the stock, up from their prior price objective of $198.00.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Raymond James lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.94.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $221.67 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The business’s fifty day moving average price is $207.62 and its two-hundred day moving average price is $223.70. The stock has a market cap of $41.61 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies has a one year low of $193.09 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts forecast that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.17%. L3Harris Technologies’s payout ratio is 60.99%.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently modified their holdings of LHX. WealthBridge Investment Counsel Inc. raised its position in shares of L3Harris Technologies by 1.9% during the 1st quarter. WealthBridge Investment Counsel Inc. now owns 26,028 shares of the company’s stock valued at $5,448,000 after acquiring an additional 485 shares in the last quarter. Elk River Wealth Management LLC increased its stake in L3Harris Technologies by 600.8% during the first quarter. Elk River Wealth Management LLC now owns 31,123 shares of the company’s stock valued at $6,514,000 after purchasing an additional 26,682 shares during the last quarter. Pines Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the first quarter worth $240,000. Retireful LLC bought a new position in shares of L3Harris Technologies in the 1st quarter worth about $332,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of L3Harris Technologies by 26.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,981 shares of the company’s stock valued at $2,089,000 after buying an additional 2,106 shares during the period. Institutional investors own 84.76% of the company’s stock.

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.