L3Harris Technologies, Inc. (NYSE:LHX) Receives $229.00 Average PT from Brokerages

L3Harris Technologies, Inc. (NYSE:LHX) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $229.60.

Several research analysts recently issued reports on LHX shares. StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada increased their price target on L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th.

L3Harris Technologies Price Performance

NYSE:LHX opened at $207.71 on Friday. The firm has a market capitalization of $39.49 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 1.93 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $218.34. The stock’s 50 day moving average price is $210.19 and its two-hundred day moving average price is $200.99.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $3.27 EPS. On average, analysts anticipate that L3Harris Technologies will post 12.73 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 annualized dividend and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio (DPR) is 72.05%.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 48,362 shares of company stock valued at $10,261,360. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Strong Tower Advisory Services raised its stake in shares of L3Harris Technologies by 0.9% in the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after acquiring an additional 49 shares during the period. Oak Harbor Wealth Partners LLC raised its stake in shares of L3Harris Technologies by 1.7% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after acquiring an additional 49 shares during the period. Blossom Wealth Management raised its stake in shares of L3Harris Technologies by 2.1% in the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after acquiring an additional 51 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after acquiring an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of L3Harris Technologies by 13.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock valued at $106,000 after acquiring an additional 58 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.