L3Harris Technologies, Inc. (NYSE:LHX) Receives $267.50 Consensus Price Target from Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $267.50.

A number of equities research analysts have issued reports on LHX shares. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company lifted their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Susquehanna increased their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th.

L3Harris Technologies Stock Up 2.2 %

Shares of LHX stock opened at $260.49 on Wednesday. The stock’s 50 day simple moving average is $240.87 and its 200 day simple moving average is $230.43. L3Harris Technologies has a twelve month low of $179.56 and a twelve month high of $261.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $49.41 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.06 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating 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 net margin of 5.71% and a return on equity of 13.11%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 earnings per share. As a group, research analysts predict that L3Harris Technologies will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared 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. This represents a $4.64 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moran Wealth Management LLC raised its position in L3Harris Technologies by 0.6% in the 3rd quarter. Moran Wealth Management LLC now owns 20,484 shares of the company’s stock valued at $4,873,000 after purchasing an additional 120 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of L3Harris Technologies by 0.3% in the third quarter. First Horizon Advisors Inc. now owns 49,697 shares of the company’s stock valued at $11,822,000 after buying an additional 146 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 33.0% in the third quarter. Advisors Asset Management Inc. now owns 24,873 shares of the company’s stock valued at $5,917,000 after buying an additional 6,174 shares during the last quarter. Howe & Rusling Inc. lifted its position in L3Harris Technologies by 5.3% during the 3rd quarter. Howe & Rusling Inc. now owns 23,658 shares of the company’s stock worth $5,628,000 after buying an additional 1,199 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its holdings in L3Harris Technologies by 15.0% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,586 shares of the company’s stock worth $377,000 after acquiring an additional 207 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.