L3Harris Technologies Inc (NYSE:LHX) Receives $299.93 Consensus PT from Analysts

by · The Cerbat Gem

Shares of L3Harris Technologies Inc (NYSE:LHXGet Free Report) have received an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $302.2857.

LHX has been the topic of several recent analyst reports. Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Morgan Stanley raised their price target on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st.

View Our Latest Stock Report on L3Harris Technologies

L3Harris Technologies Stock Down 1.5%

L3Harris Technologies stock opened at $309.86 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $321.52. The firm has a fifty day moving average price of $288.74 and a two-hundred day moving average price of $280.62. The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 1.97 and a beta of 0.66.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.34 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.5%. L3Harris Technologies’s dividend payout ratio is 51.56%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after acquiring an additional 1,413,833 shares in the last quarter. AGF Management Ltd. acquired a new stake in L3Harris Technologies during the 2nd quarter valued at $324,940,000. Victory Capital Management Inc. increased its holdings in L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after purchasing an additional 1,079,474 shares in the last quarter. Boston Partners raised its position in L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after purchasing an additional 838,546 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after purchasing an additional 766,075 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About L3Harris Technologies

(Get Free Report)

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.

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