L3Harris Technologies (NYSE:LHX) Cut to “Hold” at Melius Research

Melius Research cut shares of L3Harris Technologies (NYSE:LHX) from a buy rating to a hold rating in a research note released on Tuesday, Marketbeat.com reports.

Several other research firms also recently issued reports on LHX. Susquehanna dropped their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. BNP Paribas Exane lowered their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group cut L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $360.45.

L3Harris Technologies Stock Down 0.8%

Shares of NYSE:LHX opened at $248.35 on Tuesday. The company has a market capitalization of $46.25 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.60 and a beta of 0.50. The company has a 50 day moving average of $279.54 and a two-hundred day moving average of $311.88. L3Harris Technologies has a 52-week low of $246.51 and a 52-week high of $379.23. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, analysts forecast that L3Harris Technologies will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC lifted its position in shares of L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in L3Harris Technologies in the fourth quarter worth about $25,000. Tower View Wealth Management LLC bought a new stake in L3Harris Technologies in the first quarter valued at about $29,000. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies in the fourth quarter valued at about $25,000. Finally, Motiv8 Investments LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $25,000. 84.76% of the stock is owned by institutional investors and hedge funds.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.