L3Harris Technologies, Inc. (NYSE:LHX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Three research 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 a report on the stock in the last year is $231.80.

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

L3Harris Technologies Stock Up 0.4 %

NYSE LHX opened at $224.44 on Thursday. The stock has a market cap of $42.57 billion, a PE ratio of 36.44, a P/E/G ratio of 1.88 and a beta of 0.72. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $228.13. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $220.29 and its 200 day moving average is $213.05.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the firm earned $2.86 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts predict that L3Harris Technologies will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders 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 dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock worth $18,558,167 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cross Staff Investments Inc boosted its position in shares of L3Harris Technologies by 12.4% during the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after acquiring an additional 158 shares in the last quarter. Boston Partners grew its holdings in shares of L3Harris Technologies by 107.2% in the 4th quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after acquiring an additional 420,943 shares during the period. Victory Capital Management Inc. grew its stake in L3Harris Technologies by 40.0% in the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock valued at $22,374,000 after acquiring an additional 30,358 shares during the last quarter. Stifel Financial Corp lifted its stake in L3Harris Technologies by 3.9% in the 4th quarter. Stifel Financial Corp now owns 175,895 shares of the company’s stock valued at $37,057,000 after buying an additional 6,675 shares in the last quarter. Finally, Scout Investments Inc. lifted its holdings in L3Harris Technologies by 59.4% in the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after purchasing an additional 13,423 shares in the last quarter. 84.76% of the stock is currently 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.