L3Harris Technologies (NYSE:LHX) Upgraded by BNP Paribas to Hold Rating

BNP Paribas upgraded shares of L3Harris Technologies (NYSE:LHX) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Truist Financial raised their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Robert W. Baird boosted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $295.29.

L3Harris Technologies Stock Performance

NYSE LHX traded down $0.12 on Tuesday, hitting $285.14. 309,390 shares of the stock traded hands, compared to its average volume of 1,328,927. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The business’s fifty day moving average is $290.96 and its two-hundred day moving average is $268.21. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $308.12. The firm has a market capitalization of $53.34 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $3.34 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is currently 51.56%.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Gold Investment Management Ltd. increased its position in L3Harris Technologies by 108.4% during the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock valued at $437,000 after buying an additional 904 shares in the last quarter. BankPlus Trust Department grew its stake in shares of L3Harris Technologies by 6.9% during the second quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after acquiring an additional 379 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of L3Harris Technologies by 20.6% during the second quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after acquiring an additional 33,019 shares in the last quarter. US Bancorp DE raised its position in shares of L3Harris Technologies by 1.6% in the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after purchasing an additional 5,526 shares during the last quarter. Finally, Dean Capital Management boosted its stake in L3Harris Technologies by 11.5% in the 1st quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after purchasing an additional 986 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.