Brokerages Set L3Harris Technologies, Inc. (NYSE:LHX) Target Price at $269.13

Shares of L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $269.13.

A number of brokerages have recently issued reports on LHX. Wells Fargo & Company decreased their target price on L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating for the company in a report on Wednesday, December 11th. Truist Financial increased their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada upped their target price on L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Finally, Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,740 shares of company stock valued at $1,866,384. Insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. KCM Investment Advisors LLC boosted its stake in shares of L3Harris Technologies by 43.8% in the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock valued at $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC acquired a new stake in L3Harris Technologies in the third quarter valued at approximately $841,000. Sanctuary Advisors LLC grew its stake in shares of L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after buying an additional 3,740 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock worth $52,395,000 after buying an additional 4,321 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company's stock worth $9,893,000 after buying an additional 512 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Up 0.1 %

Shares of NYSE LHX traded up $0.27 during mid-day trading on Thursday, reaching $213.59. The company had a trading volume of 720,217 shares, compared to its average volume of 919,987. The stock has a market cap of $40.51 billion, a P/E ratio of 33.74, a PEG ratio of 1.91 and a beta of 0.72. L3Harris Technologies has a 52-week low of $200.18 and a 52-week high of $265.74. The firm has a 50 day simple moving average of $239.69 and a two-hundred day simple moving average of $234.28. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts' consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 earnings per share. Sell-side analysts predict that L3Harris Technologies will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. L3Harris Technologies's dividend payout ratio (DPR) is currently 73.30%.

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.