L3Harris Technologies, Inc. (NYSE:LHX) Receives $231.80 Consensus Target Price from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $231.80.

Several brokerages have recently issued reports on LHX. Royal Bank of Canada lifted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Wells Fargo & Company lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target on the stock in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Barclays raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th.

L3Harris Technologies Trading Down 0.8 %

Shares of NYSE LHX opened at $217.47 on Friday. The company has a market cap of $41.25 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $226.99. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $215.71 and its 200 day simple moving average is $210.90.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same period last year, the firm earned $2.86 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts expect that L3Harris Technologies will post 12.89 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 3,363 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $212.86, for a total value of $715,848.18. Following the completion of the transaction, the senior vice president now directly owns 55,254 shares in the company, valued at $11,761,366.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,553 shares of company stock valued at $26,304,731. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Strong Tower Advisory Services raised its position in L3Harris Technologies by 0.9% in the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock worth $1,130,000 after purchasing an additional 49 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its position in shares of L3Harris Technologies by 1.7% during 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 last quarter. Blossom Wealth Management lifted 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 purchasing an additional 51 shares during the period. JFS Wealth Advisors LLC lifted 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 purchasing an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust lifted 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 purchasing an additional 58 shares during the period. Institutional investors own 84.76% of the company’s stock.

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.