Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) PT at $247.08

L3Harris Technologies, Inc. (NYSE:LHX) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $247.08.

A number of brokerages have recently weighed in on LHX. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the company from $245.00 to $257.00 in a research report on Friday, July 26th. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Barclays boosted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Scott T. Mikuen sold 10,527 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 29,402 shares of company stock worth $6,861,855 over the last quarter. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently made changes to their positions in LHX. Meeder Asset Management Inc. lifted its stake in L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares during the period. Transcendent Capital Group LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC increased its holdings in L3Harris Technologies by 70.4% during the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares during the period. Versant Capital Management Inc raised its stake in L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in L3Harris Technologies during the second quarter worth $45,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 1.9 %

Shares of LHX opened at $237.73 on Tuesday. The business’s 50 day moving average is $231.42 and its 200 day moving average is $222.04. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a market capitalization of $45.09 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the business posted $2.97 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts expect that L3Harris Technologies will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 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.