Shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) have received an average rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $259.46.
A number of brokerages have issued reports on LHX. Credit Suisse Group dropped their target price on shares of L3Harris Technologies from $244.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, January 20th. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, December 12th. Susquehanna raised their price target on L3Harris Technologies from $265.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, January 30th. Truist Financial decreased their price objective on shares of L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, January 30th. Finally, Citigroup started coverage on shares of L3Harris Technologies in a report on Thursday, December 8th. They set a “neutral” rating and a $250.00 target price for the company.
Institutional Investors Weigh In On L3Harris Technologies
A number of institutional investors have recently bought and sold shares of LHX. B. Riley Wealth Advisors Inc. boosted its holdings in L3Harris Technologies by 8.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 10,240 shares of the company’s stock valued at $2,132,000 after acquiring an additional 816 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of L3Harris Technologies by 4.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 43,044 shares of the company’s stock valued at $8,961,000 after purchasing an additional 2,024 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in L3Harris Technologies by 28.1% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,140 shares of the company’s stock worth $237,000 after purchasing an additional 250 shares in the last quarter. Voya Investment Management LLC raised its holdings in L3Harris Technologies by 56.2% in the fourth quarter. Voya Investment Management LLC now owns 120,552 shares of the company’s stock valued at $25,100,000 after buying an additional 43,374 shares during the period. Finally, Cravens & Co Advisors LLC acquired a new position in L3Harris Technologies during the fourth quarter valued at approximately $316,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
L3Harris Technologies Stock Up 0.7 %
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its earnings results on Friday, January 27th. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.21 by $0.06. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.36 billion. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. On average, sell-side analysts predict that L3Harris Technologies will post 12.32 EPS for the current fiscal year.
L3Harris Technologies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a dividend of $1.14 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, March 9th. L3Harris Technologies’s dividend payout ratio is presently 83.36%.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.
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