Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) Price Target at $256.56

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $256.56.

LHX has been the topic of a number of recent research reports. Citigroup decreased their price objective on L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Barclays cut their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st.

L3Harris Technologies Stock Down 0.1 %

LHX opened at $219.72 on Wednesday. The firm has a 50-day simple moving average of $212.69 and a two-hundred day simple moving average of $221.39. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a market capitalization of $41.24 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. Analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio (DPR) is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC lifted its holdings in shares of L3Harris Technologies by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock valued at $200,000 after purchasing an additional 50 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company’s stock valued at $353,000 after buying an additional 50 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in L3Harris Technologies by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock worth $328,000 after acquiring an additional 51 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company’s stock worth $1,476,000 after acquiring an additional 52 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 2.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock valued at $514,000 after acquiring an additional 53 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About L3Harris Technologies

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.