Brokerages Set L3Harris Technologies Inc (NYSE:LHX) PT at $279.47

L3Harris Technologies Inc (NYSE:LHX) has earned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $279.4706.

Several equities research analysts have recently issued reports on LHX shares. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna raised their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Barclays raised their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Robert W. Baird raised their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, Truist Financial raised their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 195,138 shares of company stock valued at $53,571,774 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in L3Harris Technologies in the 1st quarter valued at $26,000. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies during the 1st quarter worth $26,000. Beacon Capital Management LLC grew its holdings in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Kiker Wealth Management LLC grew its holdings in L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares during the period. Finally, Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies during the 2nd quarter worth $32,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $296.88 on Friday. The firm has a fifty day simple moving average of $276.58 and a 200-day simple moving average of $247.64. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $298.40. The stock has a market capitalization of $55.55 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.15 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the company earned $3.24 earnings per share. L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

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.