L3Harris Technologies, Inc. (NYSE:LHX) Receives $253.64 Average Target Price from Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $253.64.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Barclays increased their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Susquehanna raised their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Citigroup lifted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th.

L3Harris Technologies Stock Up 0.9 %

Shares of LHX opened at $248.23 on Friday. L3Harris Technologies has a 1 year low of $169.55 and a 1 year high of $248.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $233.54 and a two-hundred day simple moving average of $224.99. The firm has a market cap of $47.08 billion, a P/E ratio of 40.30, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts forecast that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 annualized dividend and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $28,000. EntryPoint Capital LLC lifted its stake in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter valued at $45,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.