L3Harris Technologies Inc (NYSE:LHX) Receives $349.55 Average Price Target from Brokerages

L3Harris Technologies Inc (NYSE:LHX) has been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $349.5455.

Several analysts have issued reports on LHX shares. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. UBS Group lifted their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Vertical Research reissued a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a report on Tuesday, January 13th. Finally, Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th.

L3Harris Technologies Stock Down 1.0%

Shares of NYSE LHX opened at $349.76 on Wednesday. The stock has a fifty day moving average price of $355.54 and a 200 day moving average price of $321.58. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies has a 12-month low of $208.11 and a 12-month high of $379.23. The company has a market cap of $65.33 billion, a P/E ratio of 41.00, a P/E/G ratio of 1.79 and a beta of 0.62.

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

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date was Friday, March 6th. L3Harris Technologies’s payout ratio is presently 58.62%.

Insider Activity at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Melanie Rakita sold 751 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the transaction, the vice president directly owned 4,131 shares in the company, valued at $1,529,791.92. The trade was a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,025 shares of company stock valued at $6,824,370 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its holdings in shares of L3Harris Technologies by 174.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after buying an additional 1,207,334 shares during the period. Victory Capital Management Inc. raised its stake in L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after acquiring an additional 1,079,474 shares during the period. Two Sigma Investments LP lifted its holdings in L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after acquiring an additional 521,312 shares during the last quarter. Boston Partners boosted its stake in L3Harris Technologies by 27.6% in the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after acquiring an additional 519,226 shares during the period. Finally, M&T Bank Corp boosted its stake in L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock valued at $119,994,000 after acquiring an additional 396,077 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

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.