L3Harris Technologies (NYSE:LHX) Reaches New 1-Year Low – Here’s What Happened

Shares of L3Harris Technologies Inc (NYSE:LHX) hit a new 52-week low on Tuesday . The company traded as low as $244.10 and last traded at $243.1680, with a volume of 58383 shares. The stock had previously closed at $246.93.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent analyst reports. Susquehanna cut 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. Jefferies Financial Group lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a report on Wednesday, August 26th. BNP Paribas Exane reduced 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. Melius Research cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings lowered L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $360.83.

L3Harris Technologies Trading Down 2.7%

The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $273.14 and its 200 day moving average is $306.41. The company has a market cap of $44.74 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.58 and a beta of 0.50.

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

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a $1.25 dividend. The ex-dividend date was Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.1%. L3Harris Technologies’s payout ratio is 50.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Allstate Corp lifted its holdings in shares of 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 acquiring an additional 7,219 shares during the last quarter. Meeder Advisory Services Inc. purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $1,397,000. Swiss National Bank boosted its position in shares of L3Harris Technologies by 7.1% during the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after buying an additional 36,320 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of L3Harris Technologies by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock valued at $531,416,000 after buying an additional 110,423 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of L3Harris Technologies by 22.3% in the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock valued at $661,905,000 after buying an additional 350,313 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.