Brokerages Set L3Harris Technologies Inc (NYSE:LHX) PT at $315.73

Shares of L3Harris Technologies Inc (NYSE:LHX) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $322.5714.

LHX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a report on Wednesday, January 14th. Wall Street Zen lowered shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, January 12th. Finally, Citigroup raised their price objective on L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a report on Tuesday, January 13th.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitlin John LLC acquired a new stake in L3Harris Technologies in the third quarter valued at $28,000. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $29,000. American National Bank & Trust lifted its stake in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Triumph Capital Management bought a new position in L3Harris Technologies during the third quarter worth about $31,000. Finally, GGM Financials LLC acquired a new position in L3Harris Technologies during the third quarter worth approximately $32,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $351.45 on Friday. The business’s 50-day moving average price is $310.91 and its two-hundred day moving average price is $292.90. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $369.59. The company has a market capitalization of $65.74 billion, a price-to-earnings ratio of 41.20, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.47 earnings per share. Equities analysts expect that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is 56.27%.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.