L3Harris Technologies Target of Unusually Large Options Trading (NYSE:LHX)

L3Harris Technologies, Inc. (NYSE:LHX) saw some unusual options trading on Wednesday. Stock investors acquired 2,413 call options on the stock. This represents an increase of 182% compared to the typical volume of 857 call options.

L3Harris Technologies Stock Up 0.2 %

Shares of NYSE:LHX opened at $245.54 on Thursday. L3Harris Technologies has a 12-month low of $176.15 and a 12-month high of $258.89. The stock has a market capitalization of $46.58 billion, a price-to-earnings ratio of 39.86, a PEG ratio of 2.10 and a beta of 0.73. The stock has a fifty day simple moving average of $238.05 and a two-hundred day simple moving average of $228.24. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. L3Harris Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.89%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LHX. Concurrent Investment Advisors LLC lifted its position in L3Harris Technologies by 2.0% during the third quarter. Concurrent Investment Advisors LLC now owns 18,253 shares of the company’s stock valued at $4,342,000 after purchasing an additional 352 shares in the last quarter. HMS Capital Management LLC raised its position in shares of L3Harris Technologies by 1.0% during the 3rd quarter. HMS Capital Management LLC now owns 4,850 shares of the company’s stock valued at $1,154,000 after purchasing an additional 47 shares during the period. Crestwood Advisors Group LLC lifted its stake in shares of L3Harris Technologies by 4.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,659 shares of the company’s stock valued at $395,000 after buying an additional 73 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in L3Harris Technologies by 3.3% in the 3rd quarter. Sentry Investment Management LLC now owns 2,854 shares of the company’s stock worth $679,000 after buying an additional 91 shares during the period. Finally, Cary Street Partners Asset Management LLC increased its stake in L3Harris Technologies by 4.1% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 1,462 shares of the company’s stock worth $348,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Wells Fargo & Company increased their price objective on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Barclays raised their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $264.07.

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.