L3Harris Technologies (NYSE:LHX) Shares Gap Up – Should You Buy?

L3Harris Technologies Inc (NYSE:LHX)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $309.76, but opened at $332.93. L3Harris Technologies shares last traded at $334.0870, with a volume of 822,116 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LHX shares. JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 target price for the company. Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday. Morgan Stanley lifted their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $302.29.

L3Harris Technologies Stock Performance

The stock has a market capitalization of $61.33 billion, a PE ratio of 35.09, a PEG ratio of 1.97 and a beta of 0.66. The company’s 50-day moving average price is $288.74 and its 200 day moving average price is $280.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm posted $3.34 earnings per share. L3Harris Technologies’s quarterly revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s payout ratio is currently 51.56%.

Insider Activity

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently bought and sold shares of the company. Wedmont Private Capital raised its holdings in L3Harris Technologies by 3.5% in the fourth quarter. Wedmont Private Capital now owns 1,527 shares of the company’s stock worth $473,000 after purchasing an additional 51 shares during the period. Procyon Advisors LLC acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $258,000. Crescent Sterling Ltd. boosted its position in L3Harris Technologies by 17.9% in the fourth quarter. Crescent Sterling Ltd. now owns 1,724 shares of the company’s stock valued at $506,000 after buying an additional 262 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of L3Harris Technologies by 9.1% in the fourth quarter. CWA Asset Management Group LLC now owns 926 shares of the company’s stock valued at $272,000 after buying an additional 77 shares during the period. Finally, Hilltop National Bank boosted its holdings in L3Harris Technologies by 13.3% in the fourth quarter. Hilltop National Bank now owns 596 shares of the company’s stock worth $175,000 after acquiring an additional 70 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

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.