L3Harris Technologies (NYSE:LHX) Sets New 12-Month Low at $183.17

L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) reached a new 52-week low on Wednesday . The stock traded as low as $183.17 and last traded at $183.47, with a volume of 109122 shares. The stock had previously closed at $184.69.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LHX shares. Morgan Stanley cut their price objective on L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Wells Fargo & Company upped their price target on L3Harris Technologies from $219.00 to $230.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. StockNews.com started coverage on L3Harris Technologies in a report on Thursday, May 18th. They issued a “buy” rating for the company. Truist Financial cut their price target on L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating for the company in a report on Monday, January 30th. Finally, Robert W. Baird cut their price target on L3Harris Technologies from $241.00 to $222.00 in a report on Monday, May 1st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Hold” and a consensus target price of $250.00.

L3Harris Technologies Stock Performance

The firm has a market capitalization of $33.42 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 5.81 and a beta of 0.70. The stock has a 50-day moving average of $193.40 and a 200 day moving average of $205.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.89 and a current ratio of 1.14.

L3Harris Technologies (NYSE:LHX – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.01). The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.26 billion. L3Harris Technologies had a return on equity of 13.03% and a net margin of 5.30%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $3.12 earnings per share. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 12.32 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a dividend of $1.14 per share. The ex-dividend date is Thursday, June 1st. This represents a $4.56 dividend on an annualized basis and a yield of 2.59%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 95.20%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LHX. Acadian Asset Management LLC lifted its holdings in L3Harris Technologies by 283.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock worth $272,000 after buying an additional 815 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in L3Harris Technologies during the 1st quarter worth $8,013,000. Sei Investments Co. lifted its holdings in L3Harris Technologies by 14.2% during the 1st quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock worth $15,643,000 after buying an additional 7,773 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in L3Harris Technologies by 18.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock worth $838,000 after buying an additional 537 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in L3Harris Technologies by 16.7% during the 1st quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock worth $306,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

About L3Harris Technologies

(Get Rating)

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.