L3Harris Technologies (NYSE:LHX) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of L3Harris Technologies (NYSE:LHX) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. TD Cowen cut their price target on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Susquehanna lowered their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 10th. Finally, Royal Bank Of Canada dropped their target price on L3Harris Technologies from $310.00 to $265.00 and set a “sector perform” rating on the stock in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $341.71.

L3Harris Technologies Trading Up 2.4%

LHX opened at $260.14 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The company has a market cap of $48.44 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. The firm has a 50 day simple moving average of $251.02 and a 200 day simple moving average of $306.52. L3Harris Technologies has a fifty-two week low of $232.34 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business posted $2.78 earnings per share. L3Harris Technologies’s revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts anticipate that L3Harris Technologies will post 11.89 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s payout ratio is currently 50.51%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cedar Mountain Advisors LLC lifted its holdings in L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. NBH Bank bought a new position in L3Harris Technologies during the second quarter worth $26,000. Elevation Wealth Partners LLC boosted its position in L3Harris Technologies by 80.0% during the second quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock worth $29,000 after purchasing an additional 44 shares during the period. Bell Investment Advisors Inc bought a new position in L3Harris Technologies during the second quarter worth $33,000. Finally, Archer Investment Corp acquired a new position in shares of L3Harris Technologies in the second quarter valued at $38,000. 84.76% of the stock is owned by institutional investors and hedge funds.

About L3Harris Technologies

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.