L3Harris Technologies, Inc. (NYSE:LHX) Receives $233.69 Average PT from Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has been assigned an average recommendation of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $233.69.

Several equities research analysts have recently commented on the company. Susquehanna Bancshares lifted their target price on L3Harris Technologies from $244.00 to $270.00 and gave the company a “positive” rating in a research note on Wednesday, August 4th. Wolfe Research assumed coverage on L3Harris Technologies in a research note on Wednesday, September 8th. They issued a “market perform” rating for the company. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 target price for the company. in a research note on Wednesday, August 11th. Raymond James lifted their target price on L3Harris Technologies from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Finally, The Goldman Sachs Group cut L3Harris Technologies from a “neutral” rating to a “sell” rating and set a $207.00 target price for the company. in a research note on Thursday, September 23rd.

In other news, insider William M. Brown sold 85,162 shares of the business’s stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $231.99, for a total value of $19,756,732.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 10,753 shares of the business’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $230.77, for a total value of $2,481,469.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 423,000 shares of company stock valued at $97,577,351. Insiders own 1.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Concord Wealth Partners raised its holdings in L3Harris Technologies by 258.3% during the first quarter. Concord Wealth Partners now owns 129 shares of the company’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in L3Harris Technologies during the first quarter worth about $26,000. Meridian Wealth Partners LLC bought a new stake in L3Harris Technologies during the first quarter worth about $29,000. Eagle Bay Advisors LLC bought a new stake in L3Harris Technologies during the second quarter worth about $48,000. Finally, Solstein Capital LLC bought a new stake in L3Harris Technologies during the first quarter worth about $54,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

LHX traded up $2.13 during trading on Friday, hitting $236.71. The company’s stock had a trading volume of 24,854 shares, compared to its average volume of 1,113,465. The firm’s 50 day moving average price is $228.94 and its two-hundred day moving average price is $221.26. The company has a quick ratio of 1.50, a current ratio of 1.70 and a debt-to-equity ratio of 0.35. L3Harris Technologies has a 12 month low of $158.09 and a 12 month high of $238.40. The stock has a market capitalization of $47.57 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Tuesday, August 3rd. The company reported $3.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.08. L3Harris Technologies had a return on equity of 12.60% and a net margin of 8.17%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the previous year, the company posted $2.83 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that L3Harris Technologies will post 13.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $4.08 dividend on an annualized basis and a yield of 1.72%. L3Harris Technologies’s payout ratio is 35.17%.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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