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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $229.60.

A number of equities research analysts recently issued reports on LHX shares. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Finally, Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Bfsg LLC purchased a new stake in L3Harris Technologies during the 1st quarter worth about $25,000. Transcendent Capital Group LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $28,000. KB Financial Partners LLC lifted its position in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of L3Harris Technologies by 178.7% in the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock valued at $36,000 after buying an additional 109 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its position in shares of L3Harris Technologies by 80.6% in the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 3.5 %

LHX opened at $214.54 on Friday. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The company’s 50 day simple moving average is $210.16 and its two-hundred day simple moving average is $201.28. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $218.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.86 earnings per share. Analysts expect that L3Harris Technologies will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

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.