L3Harris Technologies Inc (NYSE:LHX) Receives $328.57 Consensus Price Target from Analysts
by Danessa Lincoln · The Markets DailyL3Harris Technologies Inc (NYSE:LHX – Get Free Report) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $328.5714.
Several equities analysts have recently weighed in on LHX shares. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Citigroup upped their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Royal Bank Of Canada raised their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Finally, BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th.
Check Out Our Latest Analysis on LHX
Insiders Place Their Bets
In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.
Institutional Investors Weigh In On L3Harris Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in LHX. Tempo Wealth LLC bought a new position in L3Harris Technologies in the 4th quarter valued at about $1,063,000. MidFirst Bank purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $343,000. Astoria Portfolio Advisors LLC. raised its stake in shares of L3Harris Technologies by 11.3% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,231 shares of the company’s stock worth $361,000 after purchasing an additional 125 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of L3Harris Technologies by 20.7% in the fourth quarter. Pacer Advisors Inc. now owns 18,810 shares of the company’s stock valued at $5,522,000 after purchasing an additional 3,222 shares in the last quarter. Finally, Kera Capital Partners Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $404,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
L3Harris Technologies Price Performance
Shares of LHX opened at $355.24 on Tuesday. The firm has a market cap of $66.35 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 2.46 and a beta of 0.64. L3Harris Technologies has a 52-week low of $195.72 and a 52-week high of $369.59. The business’s 50 day moving average price is $333.89 and its two-hundred day moving average price is $301.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the business posted $3.47 EPS. L3Harris Technologies’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.
L3Harris Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.
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.
Featured Stories
- Five stocks we like better than L3Harris Technologies
- The gold chart Wall Street is terrified of…
- This makes me furious
- America’s 1776 happening again
- Buy this Gold Stock Before May 2026
- What a Former CIA Agent Knows About the Coming Collapse