L3Harris Technologies, Inc. (NYSE:LHX) Given Consensus Rating of "Hold" by Brokerages – MarketBeat
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L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) has received a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $272.40.
LHX has been the topic of a number of recent research reports. Credit Suisse Group initiated coverage on shares of L3Harris Technologies in a report on Tuesday, October 11th. They set an “outperform” rating and a $267.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of L3Harris Technologies in a report on Monday, August 29th. They issued an “outperform” rating and a $285.00 target price on the stock. Wolfe Research assumed coverage on shares of L3Harris Technologies in a research report on Monday, October 10th. They issued a “peer perform” rating on the stock. StockNews.com assumed coverage on shares of L3Harris Technologies in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Robert W. Baird decreased their price target on shares of L3Harris Technologies from $332.00 to $290.00 and set an “outperform” rating on the stock in a research report on Monday, October 31st.
Insider Buying and Selling at L3Harris Technologies
In other news, CEO Christopher E. Kubasik sold 20,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $245.22, for a total value of $4,904,400.00. Following the completion of the sale, the chief executive officer now owns 98,926 shares in the company, valued at approximately $24,258,633.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Christopher E. Kubasik sold 20,000 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares in the company, valued at $24,258,633.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP James P. Girard sold 7,500 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the transaction, the vice president now owns 12,143 shares of the company’s stock, valued at approximately $2,914,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,478 shares of company stock worth $12,619,358. 1.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On L3Harris Technologies
A number of institutional investors and hedge funds have recently modified their holdings of LHX. Checchi Capital Advisers LLC raised its stake in L3Harris Technologies by 13.8% in the first quarter. Checchi Capital Advisers LLC now owns 1,820 shares of the company’s stock valued at $452,000 after purchasing an additional 220 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in L3Harris Technologies by 15.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,105 shares of the company’s stock valued at $6,487,000 after purchasing an additional 3,572 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of L3Harris Technologies by 4.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 199,390 shares of the company’s stock worth $49,552,000 after purchasing an additional 8,398 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of L3Harris Technologies by 333.3% in the 2nd quarter. Sound Income Strategies LLC now owns 156 shares of the company’s stock valued at $38,000 after purchasing an additional 120 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its position in L3Harris Technologies by 53.9% during the 1st quarter. State of Tennessee Treasury Department now owns 52,503 shares of the company’s stock worth $13,046,000 after acquiring an additional 18,392 shares during the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.
L3Harris Technologies Stock Down 6.1 %
Shares of L3Harris Technologies stock opened at $224.75 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.10 and a quick ratio of 0.87. L3Harris Technologies has a 1-year low of $200.71 and a 1-year high of $279.71. The business has a 50-day moving average of $230.75 and a 200-day moving average of $233.41. The company has a market capitalization of $42.79 billion, a PE ratio of 39.02, a P/E/G ratio of 5.55 and a beta of 0.75.
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. L3Harris Technologies had a net margin of 6.71% and a return on equity of 13.18%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.21 earnings per share. As a group, equities analysts forecast that L3Harris Technologies will post 12.81 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, November 17th. This represents a $4.48 dividend on an annualized basis and a yield of 1.99%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 77.78%.
About L3Harris Technologies
(Get Rating)
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.
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