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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $229.00.

LHX has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Royal Bank of Canada boosted their price target on L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Raymond James upped their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Finally, UBS Group upped their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $205.45 on Friday. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $218.34. The stock’s 50-day moving average is $210.30 and its 200 day moving average is $199.84. The company has a market cap of $39.06 billion, a P/E ratio of 31.90, a PEG ratio of 1.87 and a beta of 0.65. 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 (NYSE:LHX) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $3.27 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts predict that L3Harris Technologies will post 12.73 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.26%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Insiders Place Their Bets

In other L3Harris Technologies 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at $12,376,393.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds have recently bought and sold shares of the company. GDS Wealth Management increased its stake in L3Harris Technologies by 184.5% in the 3rd quarter. GDS Wealth Management now owns 90,123 shares of the company’s stock valued at $15,692,000 after purchasing an additional 58,441 shares in the last quarter. Sapient Capital LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $1,198,000. Bruce G. Allen Investments LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $46,000. Ceredex Value Advisors LLC increased its stake in L3Harris Technologies by 14.1% in the 3rd quarter. Ceredex Value Advisors LLC now owns 673,757 shares of the company’s stock valued at $117,315,000 after purchasing an additional 83,319 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new position in L3Harris Technologies in the 4th quarter valued at approximately $1,125,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.