L3Harris Technologies Inc (NYSE:LHX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of L3Harris Technologies Inc (NYSE:LHX) have earned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $279.4706.

Several equities analysts have recently weighed in on LHX shares. Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. UBS Group upped their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Susquehanna upped their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Citigroup upped their price objective on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 72,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $39,472,018.92. This represents a 33.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 145,199 shares of company stock valued at $38,555,071. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Brighton Jones LLC grew its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of L3Harris Technologies by 371.1% during the 4th quarter. Aptus Capital Advisors LLC now owns 12,518 shares of the company’s stock worth $2,632,000 after buying an additional 9,861 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of L3Harris Technologies during the 4th quarter worth $53,011,000. BIP Wealth LLC bought a new position in shares of L3Harris Technologies during the 4th quarter worth $235,000. Finally, Benjamin Edwards Inc. grew its position in shares of L3Harris Technologies by 20.9% during the 4th quarter. Benjamin Edwards Inc. now owns 13,514 shares of the company’s stock worth $2,842,000 after buying an additional 2,339 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $277.47 on Tuesday. The company has a market cap of $51.91 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.03 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business’s 50 day moving average price is $266.84 and its 200-day moving average price is $237.18. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $280.52.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts predict that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

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.