L3Harris Technologies (NYSE:LHX) Reaches New 12-Month Low – Here’s What Happened

Shares of L3Harris Technologies Inc (NYSE:LHX) reached a new 52-week low on Monday . The company traded as low as $261.62 and last traded at $263.4290, with a volume of 304749 shares trading hands. The stock had previously closed at $266.73.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent analyst reports. Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. BNP Paribas Exane cut their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Susquehanna reduced 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 report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

The stock has a 50-day moving average of $287.85 and a 200 day moving average of $319.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a market capitalization of $48.82 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

Institutional Trading of L3Harris Technologies

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of L3Harris Technologies by 27,873.4% during the 2nd quarter. California State Teachers Retirement System now owns 83,761,115 shares of the company’s stock valued at $24,340,142,000 after acquiring an additional 83,461,684 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $300,000. Wedmont Private Capital grew its stake in shares of L3Harris Technologies by 2.7% during the second quarter. Wedmont Private Capital now owns 1,774 shares of the company’s stock worth $516,000 after purchasing an additional 47 shares during the period. HB Wealth Management LLC grew its stake in shares of L3Harris Technologies by 8.1% during the second quarter. HB Wealth Management LLC now owns 14,729 shares of the company’s stock worth $4,280,000 after purchasing an additional 1,104 shares during the period. Finally, Compass Financial Management LLC bought a new stake in L3Harris Technologies in the second quarter valued at about $370,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.