Analysts Set L3Harris Technologies Inc (NYSE:LHX) Target Price at $328.57

Shares of L3Harris Technologies Inc (NYSE:LHX) have received a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $328.5714.

Several analysts have weighed in on the company. Vertical Research reaffirmed a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Morgan Stanley lifted their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Finally, Citigroup increased their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th.

L3Harris Technologies Stock Down 1.6%

Shares of L3Harris Technologies stock opened at $343.76 on Friday. 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 $195.72 and a 12-month high of $379.23. The company has a market cap of $64.21 billion, a P/E ratio of 40.30, a PEG ratio of 2.52 and a beta of 0.63. The company’s fifty day simple moving average is $354.19 and its two-hundred day simple moving average is $314.25.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the firm posted $3.47 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research 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 was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.5%. 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 (DPR) is 58.62%.

Insider Activity at L3Harris Technologies

In related news, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the sale, the vice president directly owned 4,882 shares in the company, valued at $1,666,958.90. The trade was a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,025 shares of company stock valued at $6,824,370 in the last three months. Company insiders own 0.72% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LHX. University of Texas Texas AM Investment Management Co. purchased a new position in L3Harris Technologies during the fourth quarter valued at $25,000. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies in the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth $25,000. Caitlin John LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at $28,000. Finally, JPL Wealth Management LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at $29,000. Hedge funds and other 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.