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

L3Harris Technologies, Inc. (NYSE:LHX) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Five 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.

Several research firms recently weighed in on LHX. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Truist Financial dropped their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Citigroup dropped their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $218.16 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies has a one year low of $193.09 and a one year high of $265.74. The company’s 50-day simple moving average is $209.13 and its 200-day simple moving average is $227.53. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Insider Activity at L3Harris Technologies

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in L3Harris Technologies in the fourth quarter worth approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after buying an additional 111 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.