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

Key Points

• Analyst sentiment is upbeat: L3Harris Technologies has an average broker rating of “Moderate Buy” from 17 analysts, with 11 buy and 2 strong-buy ratings. The average 12-month price target is $354.75.
• Recent earnings topped expectations: The company reported EPS of $2.72 versus the $2.53 estimate and revenue of $5.74 billion versus $5.42 billion expected. Revenue rose 11.9% year over year.
• Shareholders will receive a dividend: L3Harris declared a quarterly dividend of $1.25 per share, payable September 18, implying an annualized dividend of $5.00 and a yield of about 1.7%.

Shares of L3Harris Technologies Inc (NYSE:LHX - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $354.75.

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Sanford C. Bernstein dropped their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Finally, UBS Group lowered their price target on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, May 1st.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. American National Bank & Trust grew its holdings in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after buying an additional 30 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its position in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after buying an additional 74 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $299.83 on Friday. The company has a market capitalization of $55.86 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 1.44 and a beta of 0.51. The firm's 50 day simple moving average is $299.43 and its 200 day simple moving average is $328.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies has a fifty-two week low of $262.98 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter in the previous year, the company earned $2.41 earnings per share. The business's revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts forecast that L3Harris Technologies will post 11.54 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies's dividend payout ratio is presently 54.29%.

L3Harris Technologies Company Profile

L3Harris Technologies NYSE: LHX is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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