L3Harris Technologies, Inc. (NYSE:LHX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages – MarketBeat

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Shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $265.09.
A number of equities analysts recently commented on LHX shares. Susquehanna decreased their target price on L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. Jefferies Financial Group decreased their target price on L3Harris Technologies from $320.00 to $300.00 in a report on Monday, May 2nd. Susquehanna Bancshares decreased their target price on L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. Finally, StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 29th.
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LHX stock opened at $238.17 on Monday. The company has a market cap of $45.94 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. L3Harris Technologies has a 1 year low of $200.71 and a 1 year high of $279.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.09. The stock’s fifty day moving average price is $236.65 and its 200-day moving average price is $236.05.
L3Harris Technologies (NYSE:LHX – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.10. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.13 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the business posted $3.18 EPS. As a group, analysts expect that L3Harris Technologies will post 13.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $4.48 dividend on an annualized basis and a yield of 1.88%. L3Harris Technologies’s dividend payout ratio is presently 48.17%.
A number of large investors have recently bought and sold shares of the business. Wedbush Securities Inc. raised its holdings in L3Harris Technologies by 1.1% during the first quarter. Wedbush Securities Inc. now owns 3,876 shares of the company’s stock valued at $963,000 after acquiring an additional 41 shares during the period. Boenning & Scattergood Inc. grew its position in shares of L3Harris Technologies by 0.9% during the first quarter. Boenning & Scattergood Inc. now owns 4,552 shares of the company’s stock valued at $1,131,000 after purchasing an additional 42 shares in the last quarter. YHB Investment Advisors Inc. grew its position in shares of L3Harris Technologies by 0.4% during the first quarter. YHB Investment Advisors Inc. now owns 9,916 shares of the company’s stock valued at $2,464,000 after purchasing an additional 42 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of L3Harris Technologies by 6.8% during the first quarter. AdvisorNet Financial Inc now owns 671 shares of the company’s stock valued at $167,000 after purchasing an additional 43 shares in the last quarter. Finally, Boston Financial Mangement LLC grew its position in shares of L3Harris Technologies by 3.8% during the first quarter. Boston Financial Mangement LLC now owns 1,165 shares of the company’s stock valued at $289,000 after purchasing an additional 43 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.
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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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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