L3Harris Technologies (NYSE:LHX) Trading Down 0.3% – What’s Next?

L3Harris Technologies, Inc. (NYSE:LHX)’s share price traded down 0.3% during trading on Wednesday . The stock traded as low as $217.20 and last traded at $217.77. 109,337 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 915,678 shares. The stock had previously closed at $218.45.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LHX shares. Citigroup lifted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $269.13.

L3Harris Technologies Trading Down 1.3 %

The company’s 50 day simple moving average is $244.28 and its two-hundred day simple moving average is $234.98. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $40.88 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the business earned $3.19 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its position in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the third quarter valued at $36,000. Family Firm Inc. acquired a new position in shares of L3Harris Technologies in the second quarter worth about $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of L3Harris Technologies in the second quarter worth about $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.