L3Harris Technologies, Inc. (NYSE:LHX) Receives $253.64 Consensus Target Price from Brokerages

L3Harris Technologies, Inc. (NYSE:LHX) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $253.64.

Several research firms have weighed in on LHX. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Citigroup increased their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Susquehanna increased their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in L3Harris Technologies by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after purchasing an additional 2,692,771 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after acquiring an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC purchased a new position in L3Harris Technologies during the second quarter valued at approximately $210,886,000. Envestnet Asset Management Inc. grew its stake in L3Harris Technologies by 236.8% during the second quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after acquiring an additional 695,582 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in L3Harris Technologies by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after acquiring an additional 523,315 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $248.23 on Friday. L3Harris Technologies has a 1 year low of $169.55 and a 1 year high of $248.45. The company’s 50-day moving average is $233.54 and its two-hundred day moving average is $224.99. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The company has a market cap of $47.08 billion, a PE ratio of 40.30, a PEG ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the business posted $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. Equities analysts anticipate that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 75.32%.

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.