L3Harris Technologies (NYSE:LHX) Cut to “Hold” at Argus

Argus lowered shares of L3Harris Technologies (NYSE:LHX) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. BNP Paribas Exane lowered their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Melius Research cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. UBS Group lowered their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein dropped their target price on shares of L3Harris Technologies from $365.00 to $346.00 and set an “outperform” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $355.92.

L3Harris Technologies Price Performance

LHX opened at $237.20 on Friday. 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’s 50 day simple moving average is $269.36 and its 200 day simple moving average is $302.80. The firm has a market cap of $44.17 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.52 and a beta of 0.50. L3Harris Technologies has a 1 year low of $236.79 and a 1 year high of $379.23.

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, beating 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 the consensus estimate of $5.81 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, analysts predict that L3Harris Technologies will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $1.25 dividend. The ex-dividend date was Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 2.1%. L3Harris Technologies’s payout ratio is 50.51%.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. REAP Financial Group LLC boosted its position in shares of L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock worth $74,000 after purchasing an additional 29 shares in the last quarter. Keudell Morrison Wealth Management increased its position in L3Harris Technologies by 0.7% during the 1st quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company’s stock valued at $1,598,000 after buying an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in L3Harris Technologies by 25.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 159 shares of the company’s stock valued at $47,000 after buying an additional 32 shares in the last quarter. Beacon Investment Advisors LLC raised its stake in L3Harris Technologies by 0.4% during the fourth quarter. Beacon Investment Advisors LLC now owns 7,854 shares of the company’s stock valued at $2,306,000 after buying an additional 34 shares during the last quarter. Finally, Hunter Associates Investment Management LLC raised its stake in L3Harris Technologies by 1.6% during the first quarter. Hunter Associates Investment Management LLC now owns 2,208 shares of the company’s stock valued at $763,000 after buying an additional 34 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.