L3Harris Technologies (NYSE:LHX) Trading Down 0% – What’s Next?

L3Harris Technologies, Inc. (NYSE:LHX) shares fell 0% during mid-day trading on Friday . The stock traded as low as $245.08 and last traded at $245.22. 73,701 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 904,826 shares. The stock had previously closed at $245.33.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LHX. Wells Fargo & Company increased their price target on L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.67.

L3Harris Technologies Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a 50-day moving average of $245.96 and a two-hundred day moving average of $233.88. The company has a market cap of $46.67 billion, a P/E ratio of 38.74, a P/E/G ratio of 2.05 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company earned $3.19 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now directly owns 16,316 shares of the company’s stock, valued at $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 8,964 shares of company stock valued at $2,179,119 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in shares of L3Harris Technologies by 260.6% in the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new stake in L3Harris Technologies in the third quarter worth about $36,000. Versant Capital Management Inc boosted its position in L3Harris Technologies by 77.7% during the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after acquiring an additional 80 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

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.