L3Harris Technologies (NYSE:LHX) Research Coverage Started at Citigroup

Citigroup started coverage on shares of L3Harris Technologies (NYSE:LHX) in a research note issued to investors on Monday, MarketBeat reports. The firm issued a buy rating and a $348.00 target price on the stock.

A number of other equities research analysts also recently weighed in on LHX. Argus downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 25th. Melius Research cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. Bank of America upped their price objective on L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Finally, Royal Bank Of Canada raised their target price on L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $340.93.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $276.28 on Monday. L3Harris Technologies has a 12-month low of $232.34 and a 12-month high of $379.23. The company has a market cap of $51.44 billion, a PE ratio of 23.02, a P/E/G ratio of 1.69 and a beta of 0.47. The stock has a 50 day simple moving average of $250.79 and a 200-day simple moving average of $302.01. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the business earned $2.70 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that L3Harris Technologies will post 12.10 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is currently 46.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LHX. Miller Global Investments LLC boosted its stake in L3Harris Technologies by 34.0% in the 2nd quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock worth $40,000 after purchasing an additional 35 shares during the period. AlTi Global Inc. lifted its holdings in shares of L3Harris Technologies by 4.3% in the first quarter. AlTi Global Inc. now owns 923 shares of the company’s stock valued at $319,000 after purchasing an additional 38 shares in the last quarter. Twin Lakes Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 0.3% in the second quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock valued at $4,125,000 after purchasing an additional 38 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in shares of L3Harris Technologies by 18.8% in the third quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock valued at $58,000 after purchasing an additional 39 shares in the last quarter. Finally, Signature Equity Partners LLC boosted its position in shares of L3Harris Technologies by 2.3% in the first quarter. Signature Equity Partners LLC now owns 1,863 shares of the company’s stock worth $643,000 after buying an additional 41 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About L3Harris Technologies

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.