L3Harris Technologies (NYSE:LHX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of L3Harris Technologies (NYSE:LHX – Get Rating) in a research report sent to investors on Thursday. The firm issued a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company upped their price target on shares of L3Harris Technologies from $219.00 to $230.00 and gave the company an equal weight rating in a research report on Wednesday, February 1st. Susquehanna upped their price target on shares of L3Harris Technologies from $265.00 to $270.00 and gave the company a positive rating in a research report on Monday, January 30th. Cowen cut their target price on shares of L3Harris Technologies from $260.00 to $240.00 and set an outperform rating for the company in a research report on Thursday, January 12th. Citigroup began coverage on shares of L3Harris Technologies in a research report on Thursday, December 8th. They issued a neutral rating and a $250.00 target price for the company. Finally, Credit Suisse Group cut their target price on shares of L3Harris Technologies from $244.00 to $240.00 and set an outperform rating for the company in a research report on Friday, January 20th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $259.46.

L3Harris Technologies Trading Down 3.5 %

Shares of NYSE:LHX opened at $195.25 on Thursday. The stock has a market capitalization of $37.09 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 6.36 and a beta of 0.71. L3Harris Technologies has a 1-year low of $189.73 and a 1-year high of $264.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 1.17. The company has a 50 day moving average price of $206.37 and a 200 day moving average price of $218.06.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.21 by $0.06. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.36 billion. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. On average, research analysts anticipate that L3Harris Technologies will post 12.32 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio (DPR) is currently 83.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in L3Harris Technologies by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 17,282,623 shares of the company’s stock valued at $3,591,848,000 after buying an additional 302,279 shares during the last quarter. BlackRock Inc. grew its stake in L3Harris Technologies by 15.1% in the 3rd quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock valued at $2,975,043,000 after buying an additional 1,875,236 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in L3Harris Technologies by 6.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,364,874 shares of the company’s stock valued at $2,158,070,000 after buying an additional 606,598 shares during the last quarter. Wells Fargo & Company MN grew its stake in L3Harris Technologies by 0.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,043,774 shares of the company’s stock valued at $1,050,164,000 after buying an additional 24,661 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in L3Harris Technologies by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,521,626 shares of the company’s stock valued at $731,807,000 after buying an additional 25,717 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.