L3Harris Technologies (NYSE:LHX) Sets New 1-Year Low at $200.51

L3Harris Technologies, Inc. (NYSE:LHXGet Rating)’s share price hit a new 52-week low on Monday . The stock traded as low as $200.51 and last traded at $202.63, with a volume of 2603 shares trading hands. The stock had previously closed at $206.18.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Morgan Stanley upgraded L3Harris Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $263.00 to $278.00 in a report on Thursday, December 15th. Credit Suisse Group started coverage on L3Harris Technologies in a report on Tuesday, October 11th. They issued an “outperform” rating and a $267.00 price objective for the company. Truist Financial upped their target price on L3Harris Technologies from $258.00 to $264.00 in a report on Monday. Argus downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Finally, JPMorgan Chase & Co. reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Monday, December 12th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $266.29.

L3Harris Technologies Stock Up 0.4 %

The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 5.95 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 1.10 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $218.37 and a two-hundred day moving average of $227.17.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.18). L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the company earned $3.21 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 12.86 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Friday, November 18th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, November 17th. L3Harris Technologies’s payout ratio is currently 77.78%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP James P. Girard sold 12,460 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was 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 of the company’s stock, valued at approximately $2,671,680. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP James P. Girard sold 12,460 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the completion of the sale, the vice president now owns 12,144 shares in the company, valued at approximately $2,671,680. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher E. Kubasik sold 20,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $245.22, for a total value of $4,904,400.00. Following the sale, the chief executive officer now owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The disclosure for this sale can be found here. Insiders have sold a total of 39,445 shares of company stock valued at $9,243,591 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Trading of L3Harris Technologies

Large investors have recently made changes to their positions in the stock. LVW Advisors LLC grew its holdings in L3Harris Technologies by 1.5% in the 3rd quarter. LVW Advisors LLC now owns 13,688 shares of the company’s stock valued at $2,845,000 after buying an additional 203 shares during the last quarter. Sound Income Strategies LLC grew its holdings in L3Harris Technologies by 333.3% in the 2nd quarter. Sound Income Strategies LLC now owns 156 shares of the company’s stock valued at $38,000 after buying an additional 120 shares during the last quarter. M Holdings Securities Inc. acquired a new stake in L3Harris Technologies in the 1st quarter valued at approximately $533,000. Royal London Asset Management Ltd. grew its holdings in L3Harris Technologies by 4.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 77,128 shares of the company’s stock valued at $18,650,000 after buying an additional 3,235 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in L3Harris Technologies by 15.3% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,098 shares of the company’s stock valued at $503,000 after buying an additional 278 shares during the last quarter. Institutional investors own 82.18% 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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