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

L3Harris Technologies Inc (NYSE:LHX) has been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $328.5714.

LHX has been the subject of several recent analyst reports. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. UBS Group lifted their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Vertical Research restated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a research note on Tuesday, January 13th.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $354.69 on Tuesday. The company has a market cap of $66.25 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. L3Harris Technologies has a 52 week low of $195.72 and a 52 week high of $369.59. The business has a 50 day moving average price of $329.75 and a 200-day moving average price of $300.29. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.L3Harris Technologies’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.47 earnings per share. Equities analysts anticipate that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 56.27%.

Insider Activity

In other news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the sale, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. The trade was a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after purchasing an additional 190,955 shares during the last quarter. Capital World Investors lifted its stake in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after purchasing an additional 329,910 shares during the last quarter. State Street Corp grew its holdings in L3Harris Technologies by 1.6% during the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after purchasing an additional 141,442 shares during the period. Geode Capital Management LLC increased its position in L3Harris Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after buying an additional 106,430 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after buying an additional 1,413,833 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.