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 analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $233.69.

A number of research firms have issued reports on LHX. 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. Wells Fargo & Company boosted their target price on L3Harris Technologies from $225.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 4th. Raymond James boosted their price target on L3Harris Technologies from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 4th. Susquehanna boosted their price target on L3Harris Technologies from $244.00 to $270.00 and gave the company a “positive” rating in a report on Wednesday, August 4th. Finally, Susquehanna Bancshares boosted their price target on L3Harris Technologies from $244.00 to $270.00 and gave the company a “positive” rating in a report on Wednesday, August 4th.

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 2,826 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $225.36, for a total transaction of $636,867.36. Following the transaction, the senior vice president now owns 67,712 shares of the company’s stock, valued at $15,259,576.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider William M. Brown sold 85,162 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $229.19, for a total value of $19,518,278.78. The disclosure for this sale can be found here. Insiders have sold 423,000 shares of company stock worth $97,577,351 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of LHX. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Concord Wealth Partners grew its position in shares of L3Harris Technologies by 258.3% in the first quarter. Concord Wealth Partners now owns 129 shares of the company’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Meridian Wealth Partners LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new position in shares of L3Harris Technologies in the second quarter valued at approximately $48,000. Finally, Solstein Capital LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $54,000. 80.54% of the stock is currently owned by institutional investors.

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

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Tuesday, August 3rd. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.62 billion. During the same period in the previous year, the firm earned $2.83 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies will post 13.03 EPS for the current year.

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

L3Harris Technologies Company Profile

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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