L3Harris Technologies, Inc. (NYSE:LHX) Receives $267.50 Consensus Price Target from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $267.50.

A number of brokerages have recently weighed in on LHX. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Citigroup raised their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $260.49 on Wednesday. The business has a 50 day simple moving average of $240.87 and a 200 day simple moving average of $230.43. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a market capitalization of $49.41 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. L3Harris Technologies has a 12-month low of $179.56 and a 12-month high of $261.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. On average, equities research analysts anticipate that L3Harris Technologies will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 8,964 shares of company stock worth $2,179,119 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. Archer Investment Corp lifted its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. EntryPoint Capital LLC lifted its stake in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its stake in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

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.