L3Harris Technologies Inc (NYSE:LHX) Receives $258.75 Consensus PT from Brokerages

Shares of L3Harris Technologies Inc (NYSE:LHX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $258.75.

Several equities analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. UBS Group boosted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price target for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup boosted their price target on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Truist Financial reduced their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider now directly owns 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer now directly owns 145,572 shares of the company's stock, valued at $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. LaFleur & Godfrey LLC boosted its holdings in shares of L3Harris Technologies by 58.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 26,799 shares of the company's stock worth $5,635,000 after acquiring an additional 9,873 shares during the period. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares during the period. Van ECK Associates Corp boosted its holdings in shares of L3Harris Technologies by 1,015.9% in the fourth quarter. Van ECK Associates Corp now owns 13,224 shares of the company's stock worth $2,781,000 after acquiring an additional 12,039 shares during the period. Principal Securities Inc. boosted its holdings in shares of L3Harris Technologies by 6.7% in the fourth quarter. Principal Securities Inc. now owns 882 shares of the company's stock worth $185,000 after acquiring an additional 55 shares during the period. Finally, Catalyst Capital Advisors LLC raised its position in shares of L3Harris Technologies by 485.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company's stock worth $76,000 after buying an additional 301 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX stock traded up $0.73 during trading on Thursday, reaching $249.56. 1,636,432 shares of the company's stock were exchanged, compared to its average volume of 1,138,585. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $46.66 billion, a PE ratio of 29.60, a PEG ratio of 1.98 and a beta of 0.74. L3Harris Technologies has a twelve month low of $193.09 and a twelve month high of $265.74. The firm's fifty day moving average price is $230.98 and its 200-day moving average price is $218.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm's revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

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.