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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $247.08.

LHX has been the topic of several research reports. Susquehanna upped their target price on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Barclays lifted their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price target for the stock from $245.00 to $257.00 in a research report on Friday, July 26th.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The disclosure for this sale can be found here. Insiders have sold 29,402 shares of company stock worth $6,861,855 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of institutional investors have recently made changes to their positions in the company. Capital World Investors boosted its stake in L3Harris Technologies by 26.0% during the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Norges Bank acquired a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $325,147,000. Wellington Management Group LLP grew its position in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $210,886,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $237.73 on Tuesday. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The company has a market cap of $45.09 billion, a PE ratio of 38.59, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The business has a 50-day simple moving average of $231.42 and a two-hundred day simple moving average of $222.04.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the business earned $2.97 EPS. L3Harris Technologies’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts expect that L3Harris Technologies will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.