L3Harris Technologies, Inc. (NYSE:LHX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $260.69.

Several research analysts have recently weighed in on LHX shares. Jefferies Financial Group lowered their price objective on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. UBS Group raised their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Truist Financial lowered their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Citigroup cut their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $202.03 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies has a one year low of $193.09 and a one year high of $265.74. The business’s 50 day simple moving average is $208.20 and its 200 day simple moving average is $224.83. The stock has a market capitalization of $37.92 billion, a PE ratio of 25.67, a PEG ratio of 2.42 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, research analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current 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 issued a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.38%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is 60.99%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently made changes to their positions in the business. Public Sector Pension Investment Board grew its position in L3Harris Technologies by 15.3% during the third quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company’s stock valued at $1,976,000 after buying an additional 1,100 shares during the period. Hilltop Holdings Inc. purchased a new position in L3Harris Technologies in the third quarter valued at about $329,000. Investment Management Corp of Ontario grew its position in shares of L3Harris Technologies by 47.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,241 shares of the company’s stock valued at $1,485,000 after acquiring an additional 2,000 shares during the period. IHT Wealth Management LLC increased its stake in shares of L3Harris Technologies by 4.3% during the 3rd quarter. IHT Wealth Management LLC now owns 3,355 shares of the company’s stock worth $800,000 after purchasing an additional 137 shares during the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $119,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

About L3Harris Technologies

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.