L3Harris Technologies, Inc. (NYSE:LHX) Receives $260.69 Consensus PT from Brokerages

L3Harris Technologies, Inc. (NYSE:LHX) has earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $260.69.

Several research firms have commented on LHX. UBS Group lifted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Bank of America cut their price target on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Jefferies Financial Group dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in L3Harris Technologies by 336.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 0.9 %

Shares of NYSE:LHX opened at $200.25 on Friday. The firm has a market capitalization of $37.59 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. 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 52-week low of $193.09 and a 52-week high of $265.74. The firm has a fifty day moving average of $207.76 and a 200 day moving average of $224.55.

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

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.40%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

About L3Harris Technologies

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.