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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been given an average recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $253.64.

Several equities research analysts have issued reports on LHX shares. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, October 10th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Barclays increased their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $248.19 on Friday. The stock has a fifty day simple moving average of $234.35 and a two-hundred day simple moving average of $225.37. L3Harris Technologies has a 1-year low of $169.55 and a 1-year high of $249.00. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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 return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the company earned $2.97 earnings per share. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. Analysts anticipate that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Koshinski Asset Management Inc. grew its stake in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares during the last quarter. RFG Advisory LLC grew its stake in shares of L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after buying an additional 43 shares during the last quarter. Optas LLC grew its stake in shares of L3Harris Technologies by 3.3% during the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after buying an additional 44 shares during the last quarter. Founders Financial Securities LLC grew its stake in shares of L3Harris Technologies by 2.8% in the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock worth $398,000 after purchasing an additional 48 shares during the last quarter. Finally, Whitener Capital Management Inc. grew its stake in shares of L3Harris Technologies by 3.0% in the second quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after purchasing an additional 50 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.