L3Harris Technologies Inc (NYSE:LHX) Stock Has Average Target Price of $343.50

L3Harris Technologies Inc (NYSE:LHX) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $345.60.

A number of brokerages have recently issued reports on LHX. BNP Paribas Exane cut their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group lowered L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Wednesday, August 26th. Susquehanna dropped their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. TD Cowen cut their price objective on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Finally, Bank of America upped their price objective on shares of L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday.

Institutional Trading of L3Harris Technologies

Hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC lifted its stake in shares of L3Harris Technologies by 29.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock valued at $15,441,000 after acquiring an additional 12,059 shares during the last quarter. Community Trust & Investment Co. grew its position in L3Harris Technologies by 8.2% during the 3rd quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock worth $15,101,000 after acquiring an additional 4,828 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $1,397,000. Swiss National Bank increased its stake in L3Harris Technologies by 7.1% in the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after purchasing an additional 36,320 shares during the period. Finally, ASK Capital Investment Managers LLC purchased a new position in L3Harris Technologies in the 3rd quarter worth approximately $1,839,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.8%

L3Harris Technologies stock opened at $260.24 on Friday. The stock has a market cap of $48.46 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.59 and a beta of 0.47. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $250.16 and its two-hundred day moving average price is $303.18. L3Harris Technologies has a 52 week low of $232.34 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 29th. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the business earned $2.70 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that L3Harris Technologies will post 12.10 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio (DPR) is 46.64%.

L3Harris Technologies Company Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies.

The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.

L3Harris was formed in 2019 through the merger of L3 Technologies and Harris Corporation.