Analysts Set L3Harris Technologies Inc (NYSE:LHX) PT at $258.75

Shares of L3Harris Technologies Inc (NYSE:LHX) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $258.75.

Several brokerages recently commented on LHX. Citigroup raised their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and raised their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Truist Financial cut their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, April 25th.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of L3Harris Technologies by 1,015.9% in the 4th quarter. Van ECK Associates Corp now owns 13,224 shares of the company’s stock valued at $2,781,000 after purchasing an additional 12,039 shares during the period. D. E. Shaw & Co. Inc. increased its position in L3Harris Technologies by 21.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company’s stock worth $1,488,000 after buying an additional 1,236 shares during the last quarter. Principal Securities Inc. raised its stake in L3Harris Technologies by 6.7% in the fourth quarter. Principal Securities Inc. now owns 882 shares of the company’s stock valued at $185,000 after buying an additional 55 shares during the period. LaFleur & Godfrey LLC lifted its position in shares of L3Harris Technologies by 58.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company’s stock valued at $5,635,000 after buying an additional 9,873 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $249.56 on Thursday. The firm’s 50 day moving average price is $231.54 and its two-hundred day moving average price is $218.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies has a 52-week low of $193.09 and a 52-week high of $265.74. The stock has a market cap of $46.66 billion, a PE ratio of 29.60, a PEG ratio of 1.99 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.06 earnings per share. As a group, analysts forecast that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.92%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

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.