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

L3Harris Technologies, Inc. (NYSE:LHX) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $256.71.

LHX has been the subject of several research reports. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Truist Financial upped their price objective on L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of L3Harris Technologies by 15.4% during the fourth 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 during the period. Wellington Management Group LLP grew its stake in L3Harris Technologies by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after purchasing an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies in the second quarter worth approximately $210,886,000. Envestnet Asset Management Inc. grew its position in shares of L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in L3Harris Technologies by 19.7% during the second 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 in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.2 %

LHX opened at $248.78 on Friday. The firm has a market cap of $47.19 billion, a price-to-earnings ratio of 40.39, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies has a 52 week low of $169.55 and a 52 week high of $249.16. The business’s 50 day moving average is $235.12 and its two-hundred day moving average is $225.81. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 EPS. On average, research analysts predict that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is presently 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.