L3Harris Technologies, Inc. (NYSE:LHX) Receives Consensus Recommendation of “Hold” from Analysts

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 stock opened at $202.27 on Friday. The stock’s 50 day moving average price is $206.59 and its 200 day moving average price is $218.42. L3Harris Technologies has a 1-year low of $189.73 and a 1-year high of $264.71. The company has a market cap of $38.42 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 6.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.95.

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

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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.