L3Harris Technologies Inc (NYSE:LHX) Receives $279.47 Consensus Price Target from Brokerages

Shares of L3Harris Technologies Inc (NYSE:LHX - Get Free Report) have received an average rating of "Moderate Buy" from the eighteen brokerages that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $279.4706.

Several research analysts have commented on the stock. Citigroup raised their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. UBS Group boosted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna upped their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 40,138 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $39,236,182.56. This represents a 21.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 145,199 shares of company stock valued at $38,555,071 over the last three months. Corporate insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares during the period. Aptus Capital Advisors LLC increased its stake in L3Harris Technologies by 371.1% in the 4th quarter. Aptus Capital Advisors LLC now owns 12,518 shares of the company's stock worth $2,632,000 after buying an additional 9,861 shares during the period. BNP Paribas Financial Markets purchased a new stake in L3Harris Technologies during the fourth quarter worth $53,011,000. BIP Wealth LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $235,000. Finally, Benjamin Edwards Inc. grew its position in shares of L3Harris Technologies by 20.9% in the 4th quarter. Benjamin Edwards Inc. now owns 13,514 shares of the company's stock worth $2,842,000 after buying an additional 2,339 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.9%

NYSE:LHX traded down $2.38 on Tuesday, hitting $272.74. The stock had a trading volume of 1,106,634 shares, compared to its average volume of 1,057,554. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market cap of $51.03 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $280.52. The firm's fifty day simple moving average is $267.90 and its two-hundred day simple moving average is $237.69.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the business posted $3.24 EPS. L3Harris Technologies's quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts predict that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

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.