L3Harris Technologies Inc (NYSE:LHX) Receives $287.63 Consensus Target Price from Analysts

Shares of L3Harris Technologies Inc (NYSE:LHX) have received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $287.6250.

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Robert W. Baird increased their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Morgan Stanley increased their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Barclays increased their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently modified their holdings of LHX. Nuveen LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $299,157,000. Bank of New York Mellon Corp increased its position in shares of L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of L3Harris Technologies in the 2nd quarter valued at approximately $324,940,000. Boston Partners increased its position in shares of L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after purchasing an additional 838,546 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after purchasing an additional 766,075 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $287.20 on Wednesday. The firm has a market cap of $53.74 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.12 and a beta of 0.76. L3Harris Technologies has a one year low of $193.09 and a one year high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm’s 50 day moving average price is $286.03 and its 200-day moving average price is $260.17.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is 53.63%.

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.