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

L3Harris Technologies, Inc. (NYSE:LHX) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $233.07.

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on L3Harris Technologies in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Sanford C. Bernstein lowered L3Harris Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $239.00 to $210.00 in a research report on Monday, August 28th. Wells Fargo & Company lifted their price objective on L3Harris Technologies from $202.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Friday, July 28th. Royal Bank of Canada restated an “outperform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, August 18th. Finally, Jefferies Financial Group reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 31st.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently modified their holdings of LHX. Norges Bank bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $342,413,000. Cowa LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC grew its holdings in shares of L3Harris Technologies by 322.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,090,275 shares of the company’s stock valued at $213,956,000 after acquiring an additional 832,313 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of L3Harris Technologies by 66.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,939,444 shares of the company’s stock valued at $403,812,000 after acquiring an additional 775,738 shares in the last quarter. Finally, Swiss National Bank bought a new position in shares of L3Harris Technologies in the first quarter valued at approximately $148,108,000. 81.33% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 0.9 %

Shares of NYSE:LHX opened at $168.59 on Friday. The firm has a market cap of $31.89 billion, a P/E ratio of 40.14, a P/E/G ratio of 4.68 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.42. L3Harris Technologies has a 12-month low of $168.01 and a 12-month high of $255.10. The business has a fifty day simple moving average of $187.94 and a 200 day simple moving average of $192.62.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.03. L3Harris Technologies had a return on equity of 12.82% and a net margin of 4.46%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the company posted $3.23 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. Analysts predict that L3Harris Technologies will post 12.33 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 1st. L3Harris Technologies’s dividend payout ratio is presently 108.57%.

L3Harris Technologies Company Profile

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.