L3Harris Technologies Inc (NYSE:LHX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• L3Harris Technologies Inc has received a consensus rating of "Moderate Buy" from eighteen brokerages, with thirteen analysts giving buy ratings and five assigning hold ratings.
• The company recently reported $2.78 earnings per share, exceeding consensus estimates of $2.48, along with quarterly revenue of $5.43 billion, marking a year-over-year growth of 2.4%.
• L3Harris declared a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 1.6%, and has a current dividend payout ratio of 53.63%.

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

A number of brokerages recently issued reports on LHX. Royal Bank Of Canada lifted their price target 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. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a report on Monday, July 14th. Citigroup boosted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday, July 25th. UBS Group upped their price target on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a report on Friday, July 25th.

L3Harris Technologies Stock Up 1.6%

Shares of NYSE LHX opened at $293.83 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $293.94. The stock's 50-day simple moving average is $275.90 and its 200-day simple moving average is $246.54. The firm has a market cap of $54.98 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 2.11 and a beta of 0.76.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares of the company's stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 195,138 shares of company stock worth $53,571,774 in the last quarter. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its stake in L3Harris Technologies by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after buying an additional 216 shares during the last quarter. Dean Capital Management boosted its stake in L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company's stock valued at $2,009,000 after purchasing an additional 986 shares during the period. Salvus Wealth Management LLC bought a new position in L3Harris Technologies in the 2nd quarter worth about $232,000. MBB Public Markets I LLC bought a new position in L3Harris Technologies in the 1st quarter worth about $310,000. Finally, Osterweis Capital Management Inc. increased its stake in shares of L3Harris Technologies by 14.9% in the first quarter. Osterweis Capital Management Inc. now owns 124,107 shares of the company's stock valued at $25,977,000 after purchasing an additional 16,091 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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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