L3Harris Technologies (NYSE:LHX) Stock Gets Price Target Cut from Royal Bank Of Canada

by · The Cerbat Gem

L3Harris Technologies (NYSE:LHX – Free Report) had its price target reduced by Royal Bank Of Canada from $310.00 to $265.00 in a research note released on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other brokerages also recently issued reports on LHX. TD Cowen decreased their price target on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 9th. The Goldman Sachs Group lowered their price objective on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. UBS Group dropped their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Susquehanna decreased their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Finally, Argus downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $341.71.

Read Our Latest Analysis on LHX

L3Harris Technologies Price Performance

Shares of LHX opened at $248.35 on Thursday. The business’s 50-day moving average is $254.25 and its two-hundred day moving average is $290.64. The company has a market capitalization of $46.24 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.59 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies has a fifty-two week low of $232.34 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business posted $2.78 EPS. The company’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. Research analysts predict that L3Harris Technologies will post 11.89 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, September 4th. L3Harris Technologies’s dividend payout ratio is currently 50.51%.

Institutional Investors Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in L3Harris Technologies in the second quarter valued at $5,525,806,000. Bank of New York Mellon Corp bought a new stake in L3Harris Technologies during the second quarter worth approximately $752,983,000. Deutsche Bank AG bought a new position in L3Harris Technologies during the second quarter valued at about $174,006,000. Man Group plc lifted its holdings in shares of L3Harris Technologies by 5,286.7% during the second quarter. Man Group plc now owns 563,720 shares of the company’s stock valued at $163,811,000 after purchasing an additional 553,255 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of L3Harris Technologies in the second quarter worth approximately $144,100,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

About L3Harris Technologies

(Get Free Report)

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.

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