Brokerages Set L3Harris Technologies Inc (NYSE:LHX) Price Target at $349.55

L3Harris Technologies Inc (NYSE:LHX) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $349.5455.

Several brokerages have recently weighed in on LHX. Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Citigroup lifted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 751 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares in the company, valued at $1,529,791.92. The trade was a 15.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,025 shares of company stock worth $6,824,370 in the last ninety days. 0.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently bought and sold shares of the business. REAP Financial Group LLC boosted its holdings in L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock valued at $74,000 after purchasing an additional 29 shares during the period. Burns J W & Co. Inc. NY increased its holdings in shares of L3Harris Technologies by 3.1% during the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock worth $290,000 after purchasing an additional 30 shares during the period. American National Bank & Trust raised its position in shares of L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after buying an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in shares of L3Harris Technologies by 5.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock valued at $161,000 after buying an additional 30 shares during the period. Finally, Turtle Creek Wealth Advisors LLC boosted its stake in shares of L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after buying an additional 31 shares during the period. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Down 2.3%

LHX stock opened at $340.52 on Wednesday. L3Harris Technologies has a 1-year low of $208.11 and a 1-year high of $379.23. The business’s 50 day simple moving average is $355.40 and its 200 day simple moving average is $322.51. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $63.61 billion, a PE ratio of 39.92, a PEG ratio of 1.76 and a beta of 0.62.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the firm posted $3.47 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that L3Harris Technologies will post 11.5 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is 58.62%.

About L3Harris Technologies

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.