L3Harris Technologies, Inc. (NYSE:LHX) Receives $269.13 Average Price Target from Brokerages

L3Harris Technologies, Inc. (NYSE:LHX) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $269.13.

Several analysts have issued reports on the company. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Truist Financial upped their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Finally, Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st.

L3Harris Technologies Price Performance

LHX stock opened at $208.94 on Thursday. The firm has a 50 day simple moving average of $238.17 and a two-hundred day simple moving average of $234.35. The stock has a market cap of $39.63 billion, a PE ratio of 33.01, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 9,504 shares of company stock valued at $2,243,263 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently made changes to their positions in LHX. OneDigital Investment Advisors LLC raised its holdings in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after acquiring an additional 40 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after purchasing an additional 42 shares in the last quarter. Blossom Wealth Management lifted its position in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. boosted its stake in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. 84.76% of the stock is owned by institutional investors.

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.