L3Harris Technologies, Inc. (NYSE:LHX) Receives $247.08 Average Target Price from Brokerages

L3Harris Technologies, Inc. (NYSE:LHX) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $247.08.

A number of research analysts have commented on LHX shares. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $245.00 to $257.00 in a research note on Friday, July 26th. Susquehanna lifted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Barclays upped their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $233.21 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The firm has a market cap of $44.24 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The business has a 50 day moving average price of $231.36 and a 200-day moving average price of $221.82.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the company posted $2.97 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts predict that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Scott T. Mikuen sold 10,527 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $10,951,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,402 shares of company stock valued at $6,861,855. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. 9258 Wealth Management LLC lifted its stake in L3Harris Technologies by 20.0% during the 4th quarter. 9258 Wealth Management LLC now owns 4,371 shares of the company’s stock valued at $921,000 after acquiring an additional 727 shares during the period. Rollins Financial bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $217,000. Gryphon Financial Partners LLC boosted its holdings in L3Harris Technologies by 26.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,808 shares of the company’s stock worth $384,000 after purchasing an additional 374 shares during the last quarter. Principal Securities Inc. bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $140,000. Finally, Beacon Pointe Advisors LLC raised its stake in L3Harris Technologies by 9.0% during the 4th quarter. Beacon Pointe Advisors LLC now owns 5,753 shares of the company’s stock valued at $1,212,000 after buying an additional 473 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

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.