L3Harris Technologies, Inc. (NYSE:LHX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $269.13.

A number of brokerages have recently weighed in on LHX. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Truist Financial raised their price objective 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.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $210.28 on Thursday. The business has a 50-day simple moving average of $236.77 and a 200 day simple moving average of $234.13. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. 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 firm has a market capitalization of $39.88 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.86 and a beta of 0.72.

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

L3Harris Technologies Dividend Announcement

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

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the company’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 transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently bought and sold shares of LHX. KCM Investment Advisors LLC lifted its holdings in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after acquiring an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in L3Harris Technologies during the third quarter valued at about $841,000. Sanctuary Advisors LLC lifted its stake in L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after purchasing an additional 3,740 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Finally, Creative Planning increased its position in shares of L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after purchasing an additional 512 shares during the last quarter. 84.76% of the stock is currently 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.