L3Harris Technologies Inc (NYSE:LHX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

L3Harris Technologies Inc (NYSE:LHX) has earned an average rating of “Moderate Buy” from the twenty ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $328.5714.

A number of research firms have recently issued reports on LHX. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Truist Financial set a $364.00 target price on shares of L3Harris Technologies in a research report on Wednesday, January 14th. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Finally, Vertical Research reiterated a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $378.63 on Tuesday. The company has a market capitalization of $70.72 billion, a P/E ratio of 44.39, a P/E/G ratio of 2.63 and a beta of 0.63. The company’s 50-day simple moving average is $337.11 and its two-hundred day simple moving average is $303.41. L3Harris Technologies has a one year low of $195.72 and a one year high of $379.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results 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 firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the firm posted $3.47 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors 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 annualized dividend and a dividend yield of 1.3%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,378 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the transaction, the vice president directly owned 4,882 shares in the company, valued at $1,666,958.90. The trade was a 32.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 19,025 shares of company stock valued at $6,824,370. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LHX. Fideuram Asset Management Ireland dac purchased a new stake in L3Harris Technologies during the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in L3Harris Technologies in the fourth quarter valued at $25,000. Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $25,000. Caitlin John LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $28,000. Finally, American National Bank & Trust grew its position in shares of L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Key Stories Impacting L3Harris Technologies

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: L3Harris announced Kenneth (Ken) Sharp will become Senior Vice President and Chief Financial Officer effective March 16, and Kenneth (Ken) Bedingfield will focus full-time on leading Missile Solutions and scaling solid rocket motor production — management framed this as accelerating the segment to meet urgent missile demand and preparing Missile Solutions for an eventual IPO. Read More.
• Positive Sentiment: Analyst sentiment improved with an upgrade from Argus, a development that can boost short-term investor demand and validate the company’s outlook. Read More.
• Negative Sentiment: Insider Samir Mehta sold 5,528 shares at an average price of $370.32 (~$2.05M); the filing shows his ownership fell by ~41.6%, which investors may interpret as a negative signal about insider conviction. Read More.
• Negative Sentiment: Insider Jon Rambeau sold 5,528 shares at an average of $370.32 (~$2.05M), reducing his stake by ~41.9%; another large insider sale that could temper enthusiasm. Read More.
• Negative Sentiment: VP Melanie Rakita disclosed two recent sales (2,378 shares on Feb 26 at $341.45 and 751 shares on Mar 2 at $370.32), totaling 3,129 shares (~$1.09M); her filings show notable reductions in her holdings. Read More.

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.