L3Harris Technologies Inc (NYSE:LHX) Receives $328.57 Consensus Target Price from Analysts

L3Harris Technologies Inc (NYSE:LHX) has earned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $328.5714.

LHX has been the topic of a number of recent analyst reports. Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, UBS Group upped their price target on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th.

L3Harris Technologies Trading Down 2.2%

Shares of LHX stock opened at $345.11 on Friday. L3Harris Technologies has a 1-year low of $195.72 and a 1-year high of $379.23. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $64.46 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 2.55 and a beta of 0.63. The stock has a 50-day moving average of $353.67 and a 200-day moving average of $312.68.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.76 by $0.10. The business 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%.The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 earnings per share. On average, equities research analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares in the company, valued at approximately $1,529,791.92. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,025 shares of company stock valued at $6,824,370 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $25,000. Motiv8 Investments LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at about $25,000. Caitlin John LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at about $28,000. Finally, American National Bank & Trust raised its stake in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares during the period. 84.76% of the stock is owned by institutional investors.

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.