L3Harris Technologies, Inc. (NYSE:LHX – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $256.94.
LHX has been the topic of a number of analyst reports. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Susquehanna decreased their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday, January 31st. UBS Group boosted their target price on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Truist Financial dropped their price target 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.
Check Out Our Latest Research Report on L3Harris Technologies
Insider Transactions at L3Harris Technologies
Institutional Trading of L3Harris Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in LHX. Vanguard Group Inc. grew its stake 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 period. Geode Capital Management LLC boosted its position in L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock worth $1,004,418,000 after purchasing an additional 53,787 shares during the period. FMR LLC increased its holdings in L3Harris Technologies by 11.5% in the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after purchasing an additional 233,968 shares in the last quarter. Invesco Ltd. raised its position in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after purchasing an additional 522,861 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $398,507,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.
L3Harris Technologies Price Performance
LHX stock opened at $221.67 on Friday. The business’s fifty day moving average price is $207.62 and its 200 day moving average price is $223.70. L3Harris Technologies has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a market capitalization of $41.61 billion, a PE ratio of 28.17, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57.
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share 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%. On average, sell-side analysts anticipate 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 was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a yield of 2.17%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 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.
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