L3Harris Technologies, Inc. (NYSE:LHX) Receives $244.43 Average Price Target from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $247.08.

Several brokerages have commented on LHX. Susquehanna boosted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada cut shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $250.00 to $240.00 in a report on Wednesday, August 14th. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st.

Insider Buying and Selling at L3Harris Technologies

In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher E. Kubasik sold 26,190 shares of L3Harris Technologies stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction 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 $27,157,578.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 59,312 shares of company stock valued at $13,523,822 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors have recently made changes to their positions in LHX. Boston Partners increased its holdings in L3Harris Technologies by 107.2% in the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after buying an additional 420,943 shares during the last quarter. Victory Capital Management Inc. grew its position in L3Harris Technologies by 40.0% in the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after acquiring an additional 30,358 shares in the last quarter. Stifel Financial Corp increased its stake 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 worth $37,057,000 after purchasing an additional 6,675 shares during the last quarter. Scout Investments Inc. raised its holdings in shares of L3Harris Technologies by 59.4% during the 4th quarter. Scout Investments Inc. now owns 36,025 shares of the company’s stock valued at $7,588,000 after purchasing an additional 13,423 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.7 %

L3Harris Technologies stock opened at $233.68 on Friday. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $245.60. The stock has a market capitalization of $44.32 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The firm has a 50 day simple moving average of $229.25 and a 200-day simple moving average of $219.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last issued 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. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $2.97 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that L3Harris Technologies will post 13.04 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 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.