L3Harris Technologies Inc (NYSE:LHX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen research firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $259.94.

LHX has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their target price for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Citigroup upped their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a report on Monday, April 28th.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares in the company, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's 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 sale, the insider owned 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the period. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the 4th quarter worth approximately $26,000. Clearstead Trust LLC bought a new position in L3Harris Technologies in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies in the 1st quarter worth approximately $26,000. Finally, Beacon Capital Management LLC lifted its stake in L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $259.60 on Monday. The firm's 50-day moving average price is $242.10 and its 200-day moving average price is $221.85. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market capitalization of $48.53 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.03 and a beta of 0.75. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.85%. L3Harris Technologies's payout ratio is currently 56.94%.

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.

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