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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $247.08.

Several research firms have weighed in on LHX. Barclays increased their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna lifted their price objective 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. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $245.00 to $257.00 in a research note on Friday, July 26th.

L3Harris Technologies Trading Up 0.3 %

Shares of NYSE:LHX opened at $230.46 on Tuesday. The business has a 50 day moving average of $231.31 and a two-hundred day moving average of $221.65. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a market capitalization of $43.71 billion, a PE ratio of 37.41, a PEG ratio of 1.95 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 earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the period. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth about $28,000. EntryPoint Capital LLC lifted its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc boosted its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares during the period. Finally, Family Firm Inc. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $45,000. 84.76% of the stock is currently owned by 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.