L3Harris Technologies, Inc. (NYSE:LHX) Receives Average Recommendation of “Moderate Buy” from Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $261.40.

Several brokerages recently issued reports on LHX. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. UBS Group upped their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Bank of America cut their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th.

L3Harris Technologies Stock Up 0.9 %

LHX opened at $212.93 on Tuesday. The firm’s 50-day simple moving average is $209.44 and its 200-day simple moving average is $226.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies has a twelve month low of $193.09 and a twelve month high of $265.74. The firm has a market cap of $39.97 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (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%. Equities research analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.25%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,098 shares of company stock valued at $1,760,588. 0.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds have recently made changes to their positions in LHX. Principal Financial Group Inc. grew its stake 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 worth $52,395,000 after acquiring an additional 4,321 shares in the last quarter. Summit Global Investments bought a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $334,000. Assetmark Inc. grew its stake in shares of L3Harris Technologies by 0.6% during the 3rd quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock worth $4,200,000 after acquiring an additional 100 shares in the last quarter. Sigma Planning Corp grew its stake in shares of L3Harris Technologies by 1.9% during the 3rd quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $622,000 after acquiring an additional 49 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of L3Harris Technologies by 37.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,695 shares of the company’s stock worth $1,592,000 after acquiring an additional 1,828 shares in the last quarter. 84.76% of the stock is 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.