L3Harris Technologies Inc (NYSE:LHX) Given Average Recommendation of “Moderate Buy” by Brokerages

L3Harris Technologies Inc (NYSE:LHX) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $354.75.

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Sanford C. Bernstein cut their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Argus raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently bought and sold shares of LHX. Artisan Partners Limited Partnership grew its holdings in L3Harris Technologies by 174.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after purchasing an additional 1,207,334 shares during the period. Victory Capital Management Inc. grew its position in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after purchasing an additional 1,079,474 shares in the last quarter. Two Sigma Investments LP grew its position in shares of L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after purchasing an additional 521,312 shares in the last quarter. Boston Partners grew its position in shares of L3Harris Technologies by 27.6% during the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.4%

Shares of NYSE:LHX opened at $303.78 on Thursday. The stock has a market capitalization of $56.59 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 1.56 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The stock’s 50-day simple moving average is $328.61 and its two-hundred day simple moving average is $326.33. L3Harris Technologies has a 52-week low of $237.56 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Analysts expect that L3Harris Technologies will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s payout ratio is currently 54.29%.

About L3Harris Technologies

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.