L3Harris Technologies, Inc. (NYSE:LHX) Receives $231.80 Average PT from Brokerages

L3Harris Technologies, Inc. (NYSE:LHX) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $231.80.

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

L3Harris Technologies Price Performance

Shares of LHX stock opened at $227.28 on Thursday. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The firm has a market capitalization of $43.11 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 1.89 and a beta of 0.72. The stock’s 50-day simple moving average is $221.89 and its 200-day simple moving average is $213.73.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.86 EPS. As a group, equities analysts forecast that L3Harris Technologies will post 12.96 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the completion of the transaction, the vice president now owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at $3,823,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock valued at $18,558,167 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently modified their holdings of LHX. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after purchasing an additional 2,606,267 shares in the last quarter. Capital World Investors lifted its position in L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after buying an additional 3,308,506 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in L3Harris Technologies by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after buying an additional 45,845 shares during the last quarter. Wells Fargo & Company MN grew its holdings in L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after buying an additional 101,708 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other 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.