L3Harris Technologies Inc. (NYSE:LHX) shares traded -1.44% lower at $189.49 on Wall Street last session.
In accordance with the data, 23 analysts cover L3Harris Technologies Inc. (NYSE:LHX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $338.00 and a low of $162.00, we find $234.50. Given the previous closing price of $192.26, this indicates a potential upside of 21.97 percent. LHX stock price is now -0.88% away from the 50-day moving average and -7.91% away from the 200-day moving average. The market capitalization of the company currently stands at $35.37B.
It has been rated a hold by 10 analysts and a buy by 10. Brokers who have rated the stock have averaged $236.06 as their price target over the next twelve months.
With the price target reduced from $290 to $241, Robert W. Baird Downgraded its rating from Outperform to Neutral for L3Harris Technologies Inc. (NYSE: LHX).
In other news, MEHNERT DANA A, Pres., Communication Systems sold 1,985 shares of the company’s stock on Dec 05. The stock was sold for $451,091 at an average price of $227.25. Upon completion of the transaction, the Pres., Communication Systems now directly owns 23,830 shares in the company, valued at $4.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 08, Vice President & CHRO GIRARD JAMES P sold 5,000 shares of the business’s stock. A total of $1,146,900 was realized by selling the stock at an average price of $229.38. This leaves the insider owning 7,144 shares of the company worth $1.35 million. Insiders disposed of 97,566 shares of company stock worth roughly $18.49 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LHX stock. A new stake in L3Harris Technologies Inc. shares was purchased by SWISS NATIONAL BANK during the first quarter worth $143,014,000. TWO SIGMA INVESTMENTS, LP invested $80,659,000 in shares of LHX during the first quarter. In the first quarter, SELECT EQUITY GROUP, L.P. acquired a new stake in L3Harris Technologies Inc. valued at approximately $61,739,000. EMPOWER ADVISORY GROUP, LLC acquired a new stake in LHX for approximately $61,279,000. AVIVA PLC purchased a new stake in LHX valued at around $31,738,000 in the second quarter. In total, there are 1,503 active investors with 84.70% ownership of the company’s stock.
L3Harris Technologies Inc. (NYSE: LHX) opened at $192.87 on Monday. During the past 12 months, L3Harris Technologies Inc. has had a low of $174.55 and a high of $255.10. As of last week, the company has a debt-to-equity ratio of 0.48, a current ratio of 1.10, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $45.52B, which is based on a 45.07 price-to-earnings ratio, a 39.54 price-to-earnings-growth ratio, and a beta of 0.71. The fifty day moving average price for LHX is $191.25 and a two-hundred day moving average price translates $205.56 for the stock.
The latest earnings results from L3Harris Technologies Inc. (NYSE: LHX) was released for Jun, 2023. According to the Aerospace & Defense Company, earnings per share came in at $2.97, beating analysts’ expectations of $2.94 by 0.03. This compares to $2.42 EPS in the same period last year. The net profit margin was 4.50% and return on equity was 4.40% for LHX. The company reported revenue of $4.69 billion for the quarter, compared to $4.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.49 percent. For the current quarter, analysts expect LHX to generate $4.47B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/19/2023. Investors who held shares on 09/05/2023 were paid a $1.14 dividend. On an annualized basis, this represents a $4.56 dividend and a 2.41% percent yield. There was an ex-dividend date of 09/01/2023 for this dividend. In terms of dividend payout ratio, LHX is presently at 106.70%.
L3Harris Technologies Inc.(LHX) Company Profile
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. It also manufactures and integrates mission systems for maritime platforms, such as signals intelligence and multi-intelligence platforms; unmanned surface and undersea autonomous solutions; and power and platform control systems and other electronic and electrical products and systems. In addition, this segment offers advanced electro-optical and infrared solutions. Its Space and Airborne Systems segment offers space payloads, sensors, and full-mission solutions; classified intelligence and cyber defense solutions; mission avionics; and electronic warfare systems. The company’s Communication Systems segment provides broadband communications; tactical radios, software-defined radios for key DoD network modernization programs and satellite communication terminals, and battlefield management networks for U.S. and international defense customers; integrated vision solutions, including helmet-mounted integrated night vision goggles; heads up displays along with Clip-on Weapon Sights, and weapon-mounted aiming lasers and range finders; and public safety radios, and system applications and equipment. The company was formerly known as Harris Corporation and changed its name to L3Harris Technologies, Inc. in June 2019. L3Harris Technologies, Inc. was founded in 1895 and is headquartered in Melbourne, Florida.
