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

L3Harris Technologies, Inc. (NYSE:LHX) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $269.13.

A number of analysts recently commented on LHX shares. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target 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. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th.

L3Harris Technologies Price Performance

NYSE LHX opened at $213.32 on Thursday. The firm’s fifty day simple moving average is $241.08 and its two-hundred day simple moving average is $234.57. The firm has a market capitalization of $40.46 billion, a P/E ratio of 33.70, a P/E/G ratio of 1.91 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. Analysts forecast that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors 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 annualized dividend and a yield of 2.18%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 7,740 shares of company stock worth $1,866,384. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its position in shares of L3Harris Technologies by 236.8% in the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after buying an additional 171,420 shares during the last quarter. International Assets Investment Management LLC increased its stake in L3Harris Technologies by 23,627.0% during the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after buying an additional 169,878 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of L3Harris Technologies by 172.6% in the second quarter. National Bank of Canada FI now owns 255,748 shares of the company’s stock valued at $56,765,000 after acquiring an additional 161,928 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.