L3Harris Technologies (NYSE:LHX) Stock Price Down 6.7% – What’s Next?

Shares of L3Harris Technologies Inc (NYSE:LHX) traded down 6.7% during mid-day trading on Thursday . The company traded as low as $292.42 and last traded at $292.1660. Approximately 1,219,843 shares traded hands during trading, a decline of 15% from the average daily volume of 1,432,258 shares. The stock had previously closed at $313.17.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Sanford C. Bernstein lowered their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Price Performance

The stock has a market capitalization of $54.46 billion, a PE ratio of 31.68, a P/E/G ratio of 1.57 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average is $320.04 and its 200 day moving average is $328.19.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Korea Investment CORP raised its stake in shares of L3Harris Technologies by 11.2% in the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock valued at $46,901,000 after acquiring an additional 15,408 shares in the last quarter. Allstate Corp lifted its holdings in L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Neo Ivy Capital Management bought a new stake in L3Harris Technologies during the third quarter worth approximately $1,203,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in L3Harris Technologies during the third quarter valued at approximately $72,446,000. Finally, Jain Global LLC raised its position in shares of L3Harris Technologies by 469.1% in the third quarter. Jain Global LLC now owns 45,861 shares of the company’s stock valued at $14,006,000 after purchasing an additional 37,803 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.