L3Harris Technologies (NYSE:LHX) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of L3Harris Technologies (NYSE:LHX) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Guggenheim assumed coverage on L3Harris Technologies in a report on Monday, September 14th. They set a “buy” rating and a $365.00 price target for the company. Sanford C. Bernstein decreased their price objective on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Susquehanna dropped their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. TD Cowen cut their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Finally, Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $341.71.

L3Harris Technologies Trading Down 0.2%

L3Harris Technologies stock opened at $253.68 on Friday. The stock has a 50-day simple moving average of $250.31 and a 200 day simple moving average of $287.12. The stock has a market capitalization of $47.24 billion, a P/E ratio of 25.62, a PEG ratio of 1.59 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies has a 52 week low of $232.34 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts expect that L3Harris Technologies will post 11.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, December 4th. This represents a $5.00 annualized dividend and a yield of 2.0%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 50.51%.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of LHX. Hilton Head Capital Partners LLC grew its position in shares of L3Harris Technologies by 49.2% during the 3rd quarter. Hilton Head Capital Partners LLC now owns 364 shares of the company’s stock worth $86,000 after purchasing an additional 120 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of L3Harris Technologies by 5.8% in the third quarter. Kingswood Wealth Advisors LLC now owns 7,746 shares of the company’s stock valued at $1,834,000 after buying an additional 428 shares during the period. Meridian Financial Partners LLC grew its position in L3Harris Technologies by 1.9% during the third quarter. Meridian Financial Partners LLC now owns 5,916 shares of the company’s stock worth $1,423,000 after buying an additional 112 shares in the last quarter. Norris Perne & French LLP MI acquired a new stake in L3Harris Technologies during the third quarter worth approximately $952,000. Finally, Signaturefd LLC grew its position in L3Harris Technologies by 9.5% during the third quarter. Signaturefd LLC now owns 10,684 shares of the company’s stock worth $2,530,000 after buying an additional 927 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.