Shares of L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) have been assigned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $250.00.
LHX has been the topic of several analyst reports. Credit Suisse Group reduced their price objective on L3Harris Technologies from $240.00 to $234.00 in a research note on Monday, May 1st. StockNews.com started coverage on L3Harris Technologies in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Robert W. Baird dropped their target price on L3Harris Technologies from $241.00 to $222.00 in a report on Monday, May 1st.
L3Harris Technologies Stock Down 1.1 %
Shares of NYSE LHX opened at $191.90 on Friday. The stock has a market cap of $36.36 billion, a P/E ratio of 40.06, a PEG ratio of 6.15 and a beta of 0.71. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.45. L3Harris Technologies has a 12-month low of $174.55 and a 12-month high of $255.10. The business’s fifty day simple moving average is $189.54 and its 200-day simple moving average is $199.68.
L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.01). The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.26 billion. L3Harris Technologies had a net margin of 5.30% and a return on equity of 13.03%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.12 earnings per share. As a group, equity analysts predict that L3Harris Technologies will post 12.32 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, June 1st. L3Harris Technologies’ dividend payout ratio is presently 95.20%.
Institutional Trading of L3Harris Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Concord Wealth Partners purchased a new stake in L3Harris Technologies in the 4th quarter valued at about $25,000. Eagle Bay Advisors LLC purchased a new stake in L3Harris Technologies in the 2nd quarter valued at about $30,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in L3Harris Technologies in the 4th quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at about $26,000. Finally, Hanson & Doremus Investment Management acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.
About L3Harris Technologies
L3Harris Technologies, Inc. engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.
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