L3Harris Technologies Inc (NYSE:LHX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• L3Harris has a consensus “Moderate Buy” rating from 18 analysts, with eight holds, eight buys and two strong buys. The average 12-month price target is $355.92.
• The stock opened at $237.69, near its 52-week low of $234.01 and well below its 52-week high of $379.23. Institutional investors and hedge funds own approximately 84.76% of outstanding shares.
• L3Harris exceeded quarterly expectations, reporting $3.13 in earnings per share and $5.88 billion in revenue, while revenue rose 8.4% year over year. The company also maintains a quarterly dividend of $1.25 per share, yielding about 2.1% annually.

Shares of L3Harris Technologies Inc (NYSE:LHX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eighteen ratings firms that are covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $355.92.

Several research analysts have weighed in on LHX shares. Jefferies Financial Group lowered L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 target price on the stock. in a report on Wednesday, August 26th. Argus cut L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Friday, September 25th. Weiss Ratings lowered L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 10th. Sanford C. Bernstein lowered their target price on L3Harris Technologies from $365.00 to $346.00 and set an "outperform" rating for the company in a research note on Wednesday, September 23rd. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Sunday.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LHX. Meeder Advisory Services Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter valued at $1,397,000. Swiss National Bank boosted its stake in shares of L3Harris Technologies by 7.1% during the 1st quarter. Swiss National Bank now owns 549,029 shares of the company's stock worth $189,497,000 after buying an additional 36,320 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of L3Harris Technologies by 22.3% in the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company's stock valued at $661,905,000 after acquiring an additional 350,313 shares in the last quarter. Diamant Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 34,415.0% in the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company's stock valued at $123,298,000 after acquiring an additional 356,195 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of L3Harris Technologies by 25.7% in the first quarter. NewEdge Advisors LLC now owns 38,662 shares of the company's stock valued at $13,344,000 after acquiring an additional 7,896 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.3%

Shares of NYSE:LHX opened at $237.69 on Wednesday. The company has a 50 day moving average price of $261.54 and a two-hundred day moving average price of $296.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The company has a market capitalization of $44.26 billion, a PE ratio of 24.01, a PEG ratio of 1.51 and a beta of 0.50. L3Harris Technologies has a 52 week low of $234.01 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. During the same period last year, the firm posted $2.78 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts forecast that L3Harris Technologies will post 11.91 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is presently 50.51%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.

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