L3Harris Technologies Inc (NYSE:LHX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of L3Harris Technologies Inc (NYSE:LHX) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $328.5714.

A number of equities research analysts have issued reports on LHX shares. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Morgan Stanley upped their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Finally, Vertical Research reiterated a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a report on Tuesday, January 13th.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider owned 7,756 shares in the company, valued at $2,872,201.92. This trade represents a 41.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LHX. First Horizon Corp bought a new stake in shares of L3Harris Technologies during the third quarter valued at approximately $10,667,000. Merit Financial Group LLC grew its stake in L3Harris Technologies by 55.9% in the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock worth $3,051,000 after purchasing an additional 3,583 shares in the last quarter. Korea Investment CORP grew its stake in L3Harris Technologies by 11.2% in the third quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after purchasing an additional 15,408 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in L3Harris Technologies by 13.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after purchasing an additional 3,532 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in L3Harris Technologies by 32.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock valued at $6,513,000 after purchasing an additional 5,239 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX opened at $353.20 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. L3Harris Technologies has a twelve month low of $195.72 and a twelve month high of $379.23. The business has a 50-day moving average price of $353.58 and a 200-day moving average price of $311.64. The firm has a market cap of $65.97 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 2.62 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the company earned $3.47 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given a dividend of $1.25 per share. The ex-dividend date was Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.