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
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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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