Weekly Research Analysts’ Ratings Updates for L3Harris Technologies (LHX)

L3Harris Technologies (NYSE: LHX) recently received a number of ratings updates from brokerages and research firms:

• 5/1/2024 – L3Harris Technologies had its price target raised by analysts at JPMorgan Chase & Co. from $240.00 to $250.00. They now have an “overweight” rating on the stock.
• 4/30/2024 – L3Harris Technologies had its price target raised by analysts at Barclays PLC from $238.00 to $245.00. They now have an “overweight” rating on the stock.
• 4/29/2024 – L3Harris Technologies had its price target raised by analysts at Royal Bank of Canada from $245.00 to $250.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – L3Harris Technologies was upgraded by analysts at Alembic Global Advisors from a “neutral” rating to an “overweight” rating. They now have a $238.00 price target on the stock.

L3Harris Technologies Trading Up 1.2 %

NYSE LHX opened at $214.75 on Tuesday. The stock has a market capitalization of $40.73 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. The firm has a 50 day moving average of $210.24 and a two-hundred day moving average of $203.13. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.86 EPS. As a group, research analysts expect that L3Harris Technologies, Inc. will post 12.91 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William H. Swanson acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by insiders.

Institutional Trading of L3Harris Technologies

Several large investors have recently bought and sold shares of LHX. Bfsg LLC acquired a new stake in shares of 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 boosted its position in L3Harris Technologies by 96.5% during the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after acquiring an additional 82 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth approximately $35,000. Finally, Blue Trust Inc. raised its holdings in 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 acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.