L3Harris Technologies (NYSE:LHX) Stock Price Down 6.7% – What’s Next?

L3Harris Technologies Inc (NYSE:LHX) traded down 6.7% during mid-day trading on Thursday . The stock traded as low as $292.42 and last traded at $292.1660. 1,219,843 shares changed hands during trading, a decline of 15% from the average session volume of 1,432,258 shares. The stock had previously closed at $313.17.

Analysts Set New Price Targets

Several research analysts recently commented on LHX shares. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Argus raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, UBS Group cut their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Down 6.7%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The company’s 50 day moving average is $320.04 and its 200 day moving average is $328.19. The stock has a market capitalization of $54.46 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.57 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the business posted $2.41 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts forecast that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s payout ratio is currently 54.29%.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LHX. Empowered Funds LLC boosted its stake in L3Harris Technologies by 17.0% during the first quarter. Empowered Funds LLC now owns 23,981 shares of the company’s stock worth $8,277,000 after buying an additional 3,491 shares in the last quarter. Militia Capital Management LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $1,532,000. Rathbones Group PLC lifted its holdings in shares of L3Harris Technologies by 123.3% during the 1st quarter. Rathbones Group PLC now owns 5,814 shares of the company’s stock worth $2,007,000 after acquiring an additional 3,210 shares during the period. DV Trading LLC boosted its position in shares of L3Harris Technologies by 200.0% during the 1st quarter. DV Trading LLC now owns 720 shares of the company’s stock valued at $249,000 after acquiring an additional 480 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of L3Harris Technologies by 47.6% during the 1st quarter. Parallel Advisors LLC now owns 5,292 shares of the company’s stock valued at $1,827,000 after acquiring an additional 1,706 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

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.