L3Harris Technologies (NYSE:LHX) Reaches New 1-Year Low – Here’s Why

L3Harris Technologies Inc (NYSE:LHX)’s share price hit a new 52-week low on Wednesday. The company traded as low as $234.00 and last traded at $233.8250, with a volume of 92037 shares. The stock had previously closed at $237.90.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Susquehanna lowered their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research report on Friday, July 31st. BNP Paribas Exane reduced their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein decreased their price target on L3Harris Technologies from $365.00 to $346.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 23rd. Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $355.92.

L3Harris Technologies Trading Up 1.3%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The firm has a market capitalization of $44.09 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 1.49 and a beta of 0.50. The business has a fifty day moving average price of $259.57 and a 200 day moving average price of $294.84.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.91 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter worth $5,525,806,000. State Street Corp lifted its holdings in shares of L3Harris Technologies by 2.9% during the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after acquiring an additional 252,662 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of L3Harris Technologies by 7.1% during the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock valued at $1,367,832,000 after acquiring an additional 313,431 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in L3Harris Technologies during the 2nd quarter worth $752,983,000. Finally, Boston Partners boosted its position in L3Harris Technologies by 27.6% during the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.