L3Harris Technologies (NYSE:LHX) Shares Down 0.1% – What’s Next?

L3Harris Technologies, Inc. (NYSE:LHX) shares traded down 0.1% during trading on Thursday . The stock traded as low as $244.92 and last traded at $245.33. 551,533 shares were traded during trading, a decline of 39% from the average session volume of 908,534 shares. The stock had previously closed at $245.58.

Analyst Ratings Changes

A number of brokerages have weighed in on LHX. Truist Financial raised their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada boosted their target price on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Finally, Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.67.

L3Harris Technologies Trading Down 0.1 %

The company has a market cap of $46.53 billion, a P/E ratio of 38.76, a PEG ratio of 2.01 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $245.66 and its two-hundred day moving average is $233.80.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 earnings per share. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. This trade represents a 15.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last quarter. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its position in shares of L3Harris Technologies by 0.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after acquiring an additional 40 shares during the period. Koshinski Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 2.7% during the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after purchasing an additional 42 shares during the period. RFG Advisory LLC boosted its position in shares of L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares in the last quarter. Blossom Wealth Management increased its position in L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after buying an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares during the period. 84.76% of the stock is currently owned by institutional investors.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.