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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $261.40.

A number of research analysts recently commented on the stock. 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 research report on Tuesday, November 26th. Truist Financial reduced their target price 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. JPMorgan Chase & Co. reduced their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Bank of America reduced their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th.

L3Harris Technologies Stock Performance

Shares of LHX opened at $212.93 on Tuesday. The company’s 50 day moving average price is $209.44 and its 200 day moving average price is $226.84. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a market capitalization of $39.97 billion, a PE ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX) last announced 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%. Research analysts expect that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in L3Harris Technologies in the 4th quarter valued at $398,507,000. Invesco Ltd. increased its holdings in L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after buying an additional 522,861 shares during the period. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Deutsche Bank AG increased its holdings in L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock valued at $155,691,000 after buying an additional 289,514 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in L3Harris Technologies in the 4th quarter valued at $53,011,000. Institutional investors 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.