L3Harris Technologies, Inc. (NYSE:LHX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $229.60.

Several brokerages recently issued reports on LHX. Wells Fargo & Company cut their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Raymond James upped their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Citigroup increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada increased 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. Finally, Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s 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 sale, the chief executive officer now 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 SEC, which is accessible through this link. In related news, insider Edward J. Zoiss sold 3,707 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total value of $783,919.29. Following the transaction, the insider now directly owns 28,644 shares of the company’s stock, valued at approximately $6,057,346.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in L3Harris Technologies by 52.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 54,436 shares of the company’s stock worth $11,600,000 after acquiring an additional 18,754 shares during the period. Leavell Investment Management Inc. increased its holdings in L3Harris Technologies by 42.6% in the 1st quarter. Leavell Investment Management Inc. now owns 8,363 shares of the company’s stock worth $1,782,000 after buying an additional 2,500 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of L3Harris Technologies by 1.6% during the 1st quarter. CENTRAL TRUST Co now owns 4,106 shares of the company’s stock valued at $875,000 after purchasing an additional 66 shares during the period. Dakota Wealth Management grew its stake in shares of L3Harris Technologies by 9.6% during the 1st quarter. Dakota Wealth Management now owns 27,056 shares of the company’s stock valued at $5,766,000 after purchasing an additional 2,360 shares during the period. Finally, Simplicity Wealth LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $576,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $207.71 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $218.34. The firm has a market capitalization of $39.49 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.65. The business’s fifty day moving average price is $210.19 and its 200 day moving average price is $200.99.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.27 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.23%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

About L3Harris Technologies

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.