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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $260.69.

Several equities research analysts have issued reports on LHX shares. Wells Fargo & Company cut their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a report on Friday, March 7th. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Susquehanna lowered their target price on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th.

L3Harris Technologies Price Performance

Shares of LHX opened at $202.03 on Friday. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.42 and a beta of 0.71. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $208.20 and its 200 day simple moving average is $224.83. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, research analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.38%. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Activity

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Sector Pension Investment Board raised its position in L3Harris Technologies by 15.3% in the third quarter. Public Sector Pension Investment Board now owns 8,308 shares of the company’s stock valued at $1,976,000 after purchasing an additional 1,100 shares during the last quarter. Hilltop Holdings Inc. bought a new position in L3Harris Technologies in the 3rd quarter valued at approximately $329,000. Investment Management Corp of Ontario grew its holdings in L3Harris Technologies by 47.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,241 shares of the company’s stock worth $1,485,000 after acquiring an additional 2,000 shares during the last quarter. IHT Wealth Management LLC increased its position in L3Harris Technologies by 4.3% in the 3rd quarter. IHT Wealth Management LLC now owns 3,355 shares of the company’s stock valued at $800,000 after acquiring an additional 137 shares during the period. Finally, Morse Asset Management Inc acquired a new position in shares of L3Harris Technologies during the third quarter worth $119,000. 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.