L3Harris Technologies (NYSE:LHX) Sets New 1-Year Low Following Analyst Downgrade

L3Harris Technologies Inc (NYSE:LHX)’s share price hit a new 52-week low during trading on Monday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The stock traded as low as $234.59 and last traded at $236.9690, with a volume of 78450 shares changing hands. The stock had previously closed at $237.69.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Guggenheim initiated coverage on shares of L3Harris Technologies in a research report on Monday, September 14th. They issued a “buy” rating and a $365.00 price objective for the company. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research note on Wednesday, August 26th. UBS Group decreased their price target on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $355.92.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. REAP Financial Group LLC raised its stake in shares of L3Harris Technologies by 12.9% in the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock valued at $74,000 after acquiring an additional 29 shares in the last quarter. Keudell Morrison Wealth Management grew its position in shares of L3Harris Technologies by 0.7% during the first quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company’s stock worth $1,598,000 after buying an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of L3Harris Technologies by 25.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 159 shares of the company’s stock worth $47,000 after buying an additional 32 shares during the period. Beacon Investment Advisors LLC raised its holdings in L3Harris Technologies by 0.4% in the fourth quarter. Beacon Investment Advisors LLC now owns 7,854 shares of the company’s stock valued at $2,306,000 after acquiring an additional 34 shares in the last quarter. Finally, Hunter Associates Investment Management LLC lifted its stake in L3Harris Technologies by 1.6% in the first quarter. Hunter Associates Investment Management LLC now owns 2,208 shares of the company’s stock worth $763,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.4%

The firm’s fifty day simple moving average is $269.36 and its 200 day simple moving average is $302.80. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The company has a market cap of $44.43 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.52 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $2.78 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. L3Harris Technologies’s dividend payout ratio is 50.51%.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.