L3Harris Technologies Inc (LHX) – What Are Brokerages Saying About This Stock?

Shares of L3Harris Technologies Inc (NYSE:LHX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $345.60.

A number of research firms have commented on LHX. The Goldman Sachs Group reduced their target price on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Melius Research downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, TD Cowen reduced their price objective on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, October 9th.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in L3Harris Technologies in the 2nd quarter worth about $5,525,806,000. Bank of New York Mellon Corp bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $752,983,000. Deutsche Bank AG bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $174,006,000. Man Group plc boosted its position in shares of L3Harris Technologies by 5,286.7% during the second quarter. Man Group plc now owns 563,720 shares of the company’s stock worth $163,811,000 after buying an additional 553,255 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of L3Harris Technologies during the second quarter worth approximately $144,100,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $258.88 on Friday. The firm has a 50 day simple moving average of $250.19 and a 200-day simple moving average of $303.58. L3Harris Technologies has a 1-year low of $232.34 and a 1-year high of $379.23. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. The stock has a market cap of $48.20 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 29th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the company earned $2.70 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that L3Harris Technologies will post 12.04 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s payout ratio is 46.64%.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.