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

L3Harris Technologies Inc (NYSE:LHX) has earned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $295.00.

LHX has been the subject of a number of research reports. Truist Financial upped their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. BNP Paribas upgraded L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th.

L3Harris Technologies Stock Up 3.2%

Shares of NYSE:LHX opened at $286.15 on Thursday. The stock has a 50-day simple moving average of $288.11 and a 200-day simple moving average of $273.78. The stock has a market capitalization of $53.52 billion, a P/E ratio of 30.74, a PEG ratio of 1.94 and a beta of 0.65. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $308.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the company posted $3.34 earnings per share. L3Harris Technologies’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s payout ratio is presently 51.56%.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 0.5% in the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after purchasing an additional 121,619 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after purchasing an additional 181,550 shares in the last quarter. State Street Corp raised its position in shares of L3Harris Technologies by 1.2% in the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after purchasing an additional 105,402 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after buying an additional 557,610 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after buying an additional 38,820 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.