Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) Target Price at $232.93

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $238.50.

A number of research analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays upped their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Susquehanna upped their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut L3Harris Technologies from a “buy” rating to a “hold” rating and upped their price target for the stock from $245.00 to $257.00 in a report on Friday, July 26th.

Insider Activity

In related news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $218.00, for a total transaction of $731,172.00. Following the sale, the vice president now owns 17,540 shares in the company, valued at $3,823,720. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other L3Harris Technologies news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $218.00, for a total value of $731,172.00. Following the sale, the vice president now directly owns 17,540 shares of the company’s stock, valued at approximately $3,823,720. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the transaction, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Insiders sold a total of 109,312 shares of company stock valued at $24,712,822 over the last 90 days. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in L3Harris Technologies during the fourth quarter worth about $1,219,000. Blue Trust Inc. increased its position in L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after purchasing an additional 109 shares in the last quarter. Global Retirement Partners LLC raised its holdings in L3Harris Technologies by 45.2% in the fourth quarter. Global Retirement Partners LLC now owns 572 shares of the company’s stock valued at $117,000 after buying an additional 178 shares during the period. Pinnacle Associates Ltd. lifted its position in L3Harris Technologies by 3.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 27,332 shares of the company’s stock valued at $5,757,000 after buying an additional 981 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its stake in L3Harris Technologies by 0.4% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 46,508 shares of the company’s stock worth $9,795,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.4 %

LHX stock opened at $230.19 on Monday. L3Harris Technologies has a one year low of $160.25 and a one year high of $245.60. The stock has a market capitalization of $43.66 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The company has a fifty day moving average of $226.57 and a 200-day moving average of $216.92.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the company posted $2.97 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect that L3Harris Technologies will post 13.04 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, September 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.02%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

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.