L3Harris Technologies, Inc. (NYSE:LHX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

L3Harris Technologies, Inc. (NYSE:LHXGet Free Report) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $229.00.

Several equities analysts have weighed in on LHX shares. TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Truist Financial boosted their price objective on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Raymond James boosted their price objective on L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Wells Fargo & Company lowered their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Finally, StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th.

View Our Latest Report on L3Harris Technologies

L3Harris Technologies Stock Down 2.1 %

Shares of LHX opened at $208.55 on Tuesday. The firm has a market cap of $39.65 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.65. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $218.34. The company’s 50-day moving average price is $211.23 and its 200 day moving average price is $196.91. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.27 EPS. On average, sell-side analysts forecast that L3Harris Technologies will post 12.73 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $1.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a yield of 2.22%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s payout ratio is currently 72.05%.

Insider Buying and Selling at L3Harris Technologies

In other news, Director William H. Swanson acquired 1,250 shares of L3Harris Technologies stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the sale, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Swanson purchased 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several large investors have recently modified their holdings of the stock. Strong Tower Advisory Services raised its stake in shares of L3Harris Technologies by 0.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares during the last quarter. State of Wyoming raised its position in L3Harris Technologies by 27.1% in the fourth quarter. State of Wyoming now owns 230 shares of the company’s stock worth $48,000 after acquiring an additional 49 shares in the last quarter. Blossom Wealth Management raised its position in L3Harris Technologies by 2.1% in the fourth quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock worth $519,000 after acquiring an additional 51 shares in the last quarter. Apollon Wealth Management LLC raised its position in L3Harris Technologies by 0.9% in the fourth quarter. Apollon Wealth Management LLC now owns 5,925 shares of the company’s stock worth $1,234,000 after acquiring an additional 52 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its position in L3Harris Technologies by 12.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock worth $103,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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