Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) PT at $229.00

L3Harris Technologies, Inc. (NYSE:LHX) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $229.60.

LHX has been the subject of a number of recent research reports. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research note on Monday, April 22nd. UBS Group increased their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price target for the company in a report on Thursday, January 11th. Finally, Citigroup raised their price objective on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th.

L3Harris Technologies Stock Up 3.5 %

LHX opened at $214.54 on Friday. The stock has a market capitalization of $40.79 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 1.93 and a beta of 0.65. The firm has a 50 day moving average price of $210.16 and a 200-day moving average price of $201.28. L3Harris Technologies has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.86 EPS. Equities research analysts forecast that L3Harris Technologies will post 12.73 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is presently 72.05%.

Insider Buying and Selling

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other L3Harris Technologies news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock valued at $10,261,360 in the last ninety days. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bfsg LLC purchased a new position in shares of L3Harris Technologies during the first quarter valued at $25,000. Transcendent Capital Group LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at about $28,000. KB Financial Partners LLC lifted its position in shares of L3Harris Technologies by 96.5% in the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the period. RVW Wealth LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at approximately $35,000. Finally, New England Capital Financial Advisors LLC purchased a new position in L3Harris Technologies during the third quarter valued at approximately $35,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Company Profile

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.