Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) Price Target at $269.13

L3Harris Technologies, Inc. (NYSE:LHX) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $269.13.

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Finally, Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 9,504 shares of company stock worth $2,243,263. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings 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 worth $27,000 after buying an additional 86 shares during the period. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank bought a new position in L3Harris Technologies during the 3rd quarter worth about $36,000. Ashton Thomas Private Wealth LLC purchased a new position in L3Harris Technologies during the 2nd quarter valued at about $57,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $58,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $212.37 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $40.28 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 1.91 and a beta of 0.72. The company has a fifty day moving average of $238.96 and a 200 day moving average of $234.31. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that L3Harris Technologies will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.18%. L3Harris Technologies’s payout ratio is 73.30%.

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.