L3Harris Technologies, Inc. (NYSE:LHX) Receives $229.00 Consensus Target Price from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $229.00.

Several analysts recently weighed in on LHX shares. Royal Bank of Canada boosted their price objective on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price on the stock in a report on Thursday, January 11th. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Raymond James boosted their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Truist Financial boosted their target price on shares of L3Harris Technologies from $224.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, December 14th.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 3,707 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at $6,057,346.68. The disclosure for this sale can be found here. Insiders have sold 48,362 shares of company stock worth $10,261,360 in the last quarter. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after buying an additional 2,692,771 shares during the period. Capital World Investors boosted its holdings in L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after buying an additional 3,308,506 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in L3Harris Technologies by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,585,362 shares of the company’s stock worth $2,018,870,000 after buying an additional 40,448 shares during the period. State Street Corp boosted its holdings in L3Harris Technologies by 1.2% in the 2nd quarter. State Street Corp now owns 8,795,513 shares of the company’s stock worth $1,721,898,000 after buying an additional 104,323 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock worth $1,084,176,000 after buying an additional 101,708 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX opened at $213.10 on Tuesday. The firm’s fifty day moving average price is $211.23 and its two-hundred day moving average price is $196.52. The stock has a market cap of $40.51 billion, a PE ratio of 33.09, a PEG ratio of 1.98 and a beta of 0.65. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm posted $3.27 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Thursday, March 7th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s dividend payout ratio is currently 72.05%.

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.