L3Harris Technologies Inc (NYSE:LHX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of L3Harris Technologies Inc (NYSE:LHXGet Free Report) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $315.7333.

LHX has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Wall Street Zen lowered L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 11th. UBS Group boosted their target price on shares of L3Harris Technologies to $323.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Citigroup upped their target price on L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th.

Read Our Latest Analysis on L3Harris Technologies

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC boosted its stake in L3Harris Technologies by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 5,482 shares of the company’s stock valued at $1,609,000 after buying an additional 176 shares in the last quarter. First National Bank & Trust Co. of Newtown boosted its position in shares of L3Harris Technologies by 4.2% in the 4th quarter. First National Bank & Trust Co. of Newtown now owns 1,474 shares of the company’s stock valued at $433,000 after purchasing an additional 60 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of L3Harris Technologies by 5.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 76,415 shares of the company’s stock worth $22,433,000 after buying an additional 3,719 shares during the period. Inscription Capital LLC boosted its stake in L3Harris Technologies by 41.6% in the 4th quarter. Inscription Capital LLC now owns 1,915 shares of the company’s stock worth $562,000 after purchasing an additional 563 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in shares of L3Harris Technologies by 6.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 1,737 shares of the company’s stock worth $510,000 after buying an additional 99 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

L3Harris Technologies Trading Down 1.2%

Shares of LHX stock opened at $355.87 on Friday. The firm’s 50 day moving average price is $306.83 and its two-hundred day moving average price is $290.80. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $369.59. The stock has a market cap of $66.57 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 2.25 and a beta of 0.66.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its quarterly 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. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm earned $3.47 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

About L3Harris Technologies

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.