L3Harris Technologies, Inc. (NYSE:LHX) Receives $261.40 Consensus PT from Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $261.40.

Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Morgan Stanley dropped their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company decreased their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following 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. In the last quarter, insiders have sold 9,862 shares of company stock valued at $2,155,054. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after purchasing an additional 53,787 shares during the last quarter. FMR LLC increased its stake in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after purchasing an additional 233,968 shares during the last quarter. Invesco Ltd. increased its stake in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $211.04 on Tuesday. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $265.74. The stock’s 50 day moving average is $209.23 and its 200-day moving average is $227.17. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $39.74 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts expect that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.27%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

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.