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

Key Points

• L3Harris Technologies has received a consensus rating of "Moderate Buy" from 18 research firms, with 5 analysts rating it as hold and 13 as buy.
• The average target price for L3Harris shares is $287.63, with recent upward adjustments from multiple analysts, including a price target increase to $320.00 by Susquehanna.
• The company has declared a quarterly dividend of $1.20, expected to be paid on December 5th, which represents a 1.6% dividend yield.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $287.6250.

LHX has been the topic of several recent research reports. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th.

L3Harris Technologies Trading Up 0.6%

Shares of L3Harris Technologies stock opened at $292.39 on Wednesday. The firm has a market capitalization of $54.71 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average is $284.08 and its 200 day moving average is $256.91. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the firm posted $3.24 EPS. The firm's 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. Equities research analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's payout ratio is 53.63%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company's stock worth $5,811,973,000 after purchasing an additional 121,619 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company's stock worth $2,058,151,000 after purchasing an additional 181,550 shares during the period. State Street Corp lifted its position in shares of L3Harris Technologies by 1.2% in the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company's stock worth $2,226,075,000 after purchasing an additional 105,402 shares during the period. Wellington Management Group LLP lifted its position in shares of L3Harris Technologies by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company's stock worth $1,074,208,000 after purchasing an additional 557,610 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company's stock valued at $1,236,410,000 after acquiring an additional 38,820 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

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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