Weekly Analysts’ Ratings Changes for L3Harris Technologies (LHX)

A number of firms have modified their ratings and price targets on shares of L3Harris Technologies (NYSE: LHX) recently:

• 10/31/2024 – L3Harris Technologies was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $300.00 price target on the stock, up previously from $240.00.
• 10/28/2024 – L3Harris Technologies had its price target raised by analysts at Royal Bank of Canada from $240.00 to $265.00. They now have a “sector perform” rating on the stock.
• 10/28/2024 – L3Harris Technologies had its price target raised by analysts at Wells Fargo & Company from $260.00 to $295.00. They now have an “overweight” rating on the stock.
• 10/28/2024 – L3Harris Technologies was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/28/2024 – L3Harris Technologies had its price target raised by analysts at Truist Financial Co. from $293.00 to $300.00. They now have a “buy” rating on the stock.
• 10/18/2024 – L3Harris Technologies had its price target raised by analysts at Truist Financial Co. from $250.00 to $293.00. They now have a “buy” rating on the stock.
• 10/10/2024 – L3Harris Technologies was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $300.00 price target on the stock.
• 10/10/2024 – L3Harris Technologies had its price target raised by analysts at Citigroup Inc. from $268.00 to $291.00. They now have a “buy” rating on the stock.
• 10/3/2024 – L3Harris Technologies had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $252.00 to $250.00. They now have a “hold” rating on the stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $247.00 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average price is $243.16 and its two-hundred day moving average price is $232.29. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $184.34 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the company earned $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in LHX. Price T Rowe Associates Inc. MD lifted its stake in shares of L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after acquiring an additional 45,845 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock valued at $712,858,000 after acquiring an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of L3Harris Technologies by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after acquiring an additional 27,763 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of L3Harris Technologies by 5.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after acquiring an additional 85,882 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.