L3Harris Technologies, Inc. (NYSE:LHX) Given Consensus Recommendation of “Buy” by Brokerages

L3Harris Technologies, Inc. (NYSE:LHXGet Rating) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $265.09.

A number of equities analysts have recently issued reports on LHX shares. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Jefferies Financial Group dropped their price target on L3Harris Technologies from $320.00 to $300.00 in a research report on Monday, May 2nd. Susquehanna dropped their price target on L3Harris Technologies from $302.00 to $298.00 in a research report on Monday, May 2nd. Susquehanna Bancshares decreased their price objective on L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. Finally, Raymond James decreased their price objective on L3Harris Technologies from $250.00 to $243.00 and set an “outperform” rating for the company in a research note on Wednesday, February 2nd.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in L3Harris Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 16,969,557 shares of the company’s stock valued at $4,216,426,000 after buying an additional 186,824 shares during the last quarter. Capital World Investors raised its stake in L3Harris Technologies by 1.0% in the first quarter. Capital World Investors now owns 15,022,227 shares of the company’s stock valued at $3,732,645,000 after buying an additional 150,987 shares during the last quarter. BlackRock Inc. raised its stake in L3Harris Technologies by 1.4% in the first quarter. BlackRock Inc. now owns 12,454,934 shares of the company’s stock valued at $3,094,678,000 after buying an additional 174,922 shares during the last quarter. State Street Corp raised its stake in L3Harris Technologies by 8.1% in the first quarter. State Street Corp now owns 8,886,247 shares of the company’s stock valued at $2,207,966,000 after buying an additional 668,800 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in L3Harris Technologies by 44.5% in the first quarter. Wellington Management Group LLP now owns 5,514,051 shares of the company’s stock valued at $1,370,076,000 after buying an additional 1,698,964 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

Shares of L3Harris Technologies stock opened at $229.40 on Friday. The stock’s fifty day moving average is $247.39 and its two-hundred day moving average is $230.99. The company has a market capitalization of $44.25 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 3.90 and a beta of 0.76. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. L3Harris Technologies has a 52 week low of $200.71 and a 52 week high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $3.12 EPS for the quarter, beating the consensus estimate of $3.06 by $0.06. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.13 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. L3Harris Technologies’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.18 EPS. As a group, research analysts anticipate that L3Harris Technologies will post 13.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, June 2nd. L3Harris Technologies’s dividend payout ratio (DPR) is presently 48.17%.

About L3Harris Technologies (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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