L3Harris Technologies, Inc. (NYSE:LHX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $267.50.

A number of equities analysts have issued reports on LHX shares. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company increased their target price on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of L3Harris Technologies by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock valued at $822,000 after purchasing an additional 2,325 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in L3Harris Technologies by 35.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 35,953 shares of the company’s stock worth $7,661,000 after acquiring an additional 9,341 shares during the last quarter. Creative Planning increased its holdings in L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after acquiring an additional 512 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in L3Harris Technologies in the 2nd quarter worth about $210,886,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $250.95 on Wednesday. The stock has a market capitalization of $47.60 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 2.06 and a beta of 0.72. L3Harris Technologies has a 52-week low of $179.56 and a 52-week high of $258.89. The stock’s 50 day moving average price is $239.48 and its two-hundred day moving average price is $229.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

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.