L3Harris Technologies, Inc. (NYSE:LHX) Receives $269.13 Consensus Target Price from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $269.13.

Several analysts have issued reports on LHX shares. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada raised their price target on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Citigroup raised their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, November 26th.

L3Harris Technologies Trading Up 0.6 %

NYSE LHX opened at $210.28 on Thursday. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $236.77 and a 200-day moving average of $234.13. The company has a market cap of $39.88 billion, a PE ratio of 33.22, a PEG ratio of 1.86 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. On average, equities research analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 7,889 shares of company stock valued at $1,800,572. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LHX. Meeder Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp boosted its position in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of L3Harris Technologies in the second quarter worth $57,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of L3Harris Technologies in the second quarter worth $58,000. Institutional investors own 84.76% of the company’s stock.

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.