L3Harris Technologies, Inc. (NYSE:LHX) Receives $261.40 Average Target Price from Analysts

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $261.40.

LHX has been the topic of a number of analyst reports. Susquehanna dropped their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,862 shares of company stock valued at $2,155,054. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Geode Capital Management LLC increased its position in L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after buying an additional 53,787 shares during the last quarter. FMR LLC increased its position in L3Harris Technologies by 11.5% during the fourth quarter. FMR LLC now owns 2,261,999 shares of the company’s stock worth $475,653,000 after buying an additional 233,968 shares during the last quarter. Invesco Ltd. increased its position in L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock worth $469,992,000 after buying an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $398,507,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX stock opened at $211.04 on Tuesday. The business’s fifty day moving average is $209.23 and its 200-day moving average is $227.17. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $39.74 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts forecast that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

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.