TheStreet Lowers L3Harris Technologies (NYSE:LHX) to C+

TheStreet cut shares of L3Harris Technologies (NYSE:LHXGet Rating) from a b- rating to a c+ rating in a research note released on Tuesday, TheStreetRatingsTable reports.

Other equities research analysts also recently issued reports about the stock. Bank of America downgraded shares of L3Harris Technologies from a buy rating to a neutral rating and dropped their price objective for the company from $285.00 to $250.00 in a report on Friday, November 11th. Raymond James downgraded shares of L3Harris Technologies from an outperform rating to a market perform rating in a report on Friday, October 28th. Credit Suisse Group started coverage on shares of L3Harris Technologies in a report on Tuesday, October 11th. They set an outperform rating and a $267.00 price objective on the stock. Wells Fargo & Company downgraded shares of L3Harris Technologies from an overweight rating to an equal weight rating and set a $238.00 price objective on the stock. in a report on Wednesday, September 28th. Finally, Argus cut L3Harris Technologies from a buy rating to a hold rating in a research report on Thursday, November 10th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $269.42.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $226.43 on Tuesday. The company’s 50-day moving average is $229.31 and its 200 day moving average is $232.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 1.10. The company has a market capitalization of $43.11 billion, a P/E ratio of 39.31, a price-to-earnings-growth ratio of 6.47 and a beta of 0.75. L3Harris Technologies has a fifty-two week low of $200.71 and a fifty-two week high of $279.71.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. L3Harris Technologies’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the firm posted $3.21 earnings per share. On average, equities research analysts forecast that L3Harris Technologies will post 12.86 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 77.78%.

Insider Buying and Selling

In related news, VP James P. Girard sold 12,460 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $220.00, for a total value of $2,741,200.00. Following the transaction, the vice president now directly owns 12,144 shares in the company, valued at $2,671,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other L3Harris Technologies news, VP James P. Girard sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total transaction of $1,146,900.00. Following the transaction, the vice president now directly owns 7,144 shares in the company, valued at $1,638,690.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James P. Girard sold 12,460 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the transaction, the vice president now owns 12,144 shares in the company, valued at $2,671,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,460 shares of company stock worth $8,792,500. Insiders own 1.00% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of institutional investors have recently made changes to their positions in LHX. Grimes & Company Inc. lifted its position in shares of L3Harris Technologies by 3.4% during the 3rd quarter. Grimes & Company Inc. now owns 1,236 shares of the company’s stock valued at $257,000 after buying an additional 41 shares in the last quarter. Valmark Advisers Inc. lifted its position in shares of L3Harris Technologies by 0.9% during the 2nd quarter. Valmark Advisers Inc. now owns 4,504 shares of the company’s stock valued at $1,089,000 after buying an additional 42 shares in the last quarter. Boston Financial Mangement LLC lifted its position in shares of L3Harris Technologies by 3.8% during the 1st quarter. Boston Financial Mangement LLC now owns 1,165 shares of the company’s stock valued at $289,000 after buying an additional 43 shares in the last quarter. Oakworth Capital Inc. lifted its position in shares of L3Harris Technologies by 8.6% during the 3rd quarter. Oakworth Capital Inc. now owns 543 shares of the company’s stock valued at $113,000 after buying an additional 43 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of L3Harris Technologies by 15.1% during the 2nd quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock valued at $83,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

L3Harris Technologies Company Profile

(Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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