TheStreet Lowers L3Harris Technologies (NYSE:LHX) to C+

TheStreet lowered shares of L3Harris Technologies (NYSE:LHXGet Rating) from a b- rating to a c+ rating in a research report report published on Tuesday morning, TheStreetRatingsTable reports.

LHX has been the subject of a number of other reports. Wolfe Research began coverage on L3Harris Technologies in a research note on Monday, October 10th. They set a peer perform rating for the company. Raymond James cut L3Harris Technologies from an outperform rating to a market perform rating in a research note on Friday, October 28th. Credit Suisse Group assumed coverage on L3Harris Technologies in a research note on Tuesday, October 11th. They set an outperform rating and a $267.00 price objective for the company. Wells Fargo & Company cut L3Harris Technologies from an overweight rating to an equal weight rating and set a $238.00 price target for the company. in a research note on Wednesday, September 28th. Finally, Royal Bank of Canada began coverage on L3Harris Technologies in a research note on Monday, August 29th. They issued an outperform rating and a $285.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $269.42.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $226.43 on Tuesday. L3Harris Technologies has a twelve month low of $200.71 and a twelve month high of $279.71. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 39.31, a P/E/G ratio of 6.47 and a beta of 0.75. The stock has a fifty day simple moving average of $229.31 and a two-hundred day simple moving average of $232.46. The company has a current ratio of 1.10, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32.

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 $3.47 by ($0.21). The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. L3Harris Technologies’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.21 earnings per share. On average, analysts predict that L3Harris Technologies will post 12.86 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 77.78%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 20,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now directly owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Christopher E. Kubasik sold 20,000 shares of L3Harris Technologies stock in a transaction on Monday, October 31st. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Girard sold 5,000 shares of L3Harris Technologies stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total transaction of $1,146,900.00. Following the completion of the sale, the vice president now directly owns 7,144 shares in the company, valued at approximately $1,638,690.72. The disclosure for this sale can be found here. Insiders sold a total of 37,460 shares of company stock valued at $8,792,500 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth $30,000. Crewe Advisors LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth $30,000. Wagner Wealth Management LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth $32,000. Apeiron RIA LLC acquired a new stake in L3Harris Technologies during the 2nd quarter worth $33,000. Finally, Sound Income Strategies LLC boosted its stake in L3Harris Technologies by 333.3% during the 2nd quarter. Sound Income Strategies LLC now owns 156 shares of the company’s stock worth $38,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 83.00% 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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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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