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

Shares of L3Harris Technologies, Inc. (NYSE:LHX) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $247.08.

LHX has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Barclays increased their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley lowered L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Finally, Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at approximately $3,861,670.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The disclosure for this sale can be found here. Insiders have sold 29,402 shares of company stock worth $6,861,855 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its position in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter valued at $28,000. EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in L3Harris Technologies in the 2nd quarter worth $45,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 1.2 %

LHX stock opened at $233.21 on Tuesday. The stock has a market cap of $44.24 billion, a P/E ratio of 37.86, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $231.36 and its two-hundred day simple moving average is $221.82. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $245.60.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.97 EPS. Analysts expect that L3Harris Technologies will post 13.06 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, September 6th. 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.