L3Harris Technologies, Inc. (NYSE:LHX) Receives $260.69 Consensus Target Price from Brokerages

Shares of L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $259.06.

Several research firms recently issued reports on LHX. Barclays dropped their target price on shares of L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Truist Financial decreased their target price on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada restated a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Citigroup reduced their price objective on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday.

L3Harris Technologies Price Performance

NYSE LHX traded down $3.31 during trading on Friday, reaching $211.04. 945,863 shares of the company traded hands, compared to its average volume of 984,482. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market cap of $39.62 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 2.42 and a beta of 0.71. The stock's 50 day moving average price is $207.38 and its two-hundred day moving average price is $223.92. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $265.74.

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L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio is currently 60.99%.

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 1,783 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares of the company's stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Large investors have recently modified their holdings of the company. Fortem Financial Group LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $841,000. Czech National Bank grew its position in L3Harris Technologies by 6.4% during the fourth quarter. Czech National Bank now owns 41,124 shares of the company's stock worth $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. lifted its position in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company's stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after buying an additional 4,321 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock worth $7,602,000 after purchasing an additional 3,740 shares during the period. 84.76% of the stock is currently owned by institutional investors.

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.