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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $238.50.

LHX has been the topic of several recent analyst reports. Susquehanna upped their price target 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. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. upped their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lowered 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. Finally, Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the transaction, the vice president now directly owns 17,540 shares in the company, valued at approximately $3,823,720. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 26,190 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. In the last three months, insiders sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LHX. Cross Staff Investments Inc grew its holdings 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 valued at $302,000 after acquiring an additional 158 shares in the last quarter. Boston Partners increased its position in 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 purchasing an additional 420,943 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of L3Harris Technologies by 40.0% during the 4th quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of L3Harris Technologies by 3.9% during 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 during the last quarter. Finally, Scout Investments Inc. grew its stake in shares of 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 buying an additional 13,423 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.4 %

NYSE LHX opened at $230.19 on Monday. The stock has a market cap of $43.67 billion, a P/E ratio of 37.37, a PEG ratio of 1.88 and a beta of 0.72. The company’s fifty day simple moving average is $226.57 and its 200-day simple moving average is $216.75. 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 has a 52 week low of $160.25 and a 52 week high of $245.60.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 earnings per share. Equities research analysts predict that L3Harris Technologies will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

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.