Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) PT at $269.67

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received an average rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $269.67.

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $275.00 to $257.00 in a report on Friday, August 9th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Finally, Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $239.86 on Friday. The company’s 50 day moving average is $246.42 and its 200 day moving average is $234.50. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a market cap of $45.49 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.03 and a beta of 0.72. L3Harris Technologies has a twelve month low of $192.95 and a twelve month high of $265.74.

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

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insider Activity at L3Harris Technologies

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 completion of the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in LHX. Cetera Investment Advisers boosted its position in shares of L3Harris Technologies by 236.3% during the 1st quarter. Cetera Investment Advisers now owns 63,530 shares of the company’s stock valued at $13,538,000 after purchasing an additional 44,641 shares in the last quarter. Cetera Advisors LLC grew its position in shares of L3Harris Technologies by 100.4% during the 1st quarter. Cetera Advisors LLC now owns 30,855 shares of the company’s stock worth $6,575,000 after buying an additional 15,457 shares during the period. Transcend Capital Advisors LLC increased its stake in shares of L3Harris Technologies by 86.7% in the 2nd quarter. Transcend Capital Advisors LLC now owns 2,742 shares of the company’s stock valued at $616,000 after acquiring an additional 1,273 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of L3Harris Technologies by 57.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,462 shares of the company’s stock valued at $328,000 after acquiring an additional 533 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in L3Harris Technologies by 2.7% during the second quarter. Moody National Bank Trust Division now owns 4,097 shares of the company’s stock worth $920,000 after acquiring an additional 106 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.