UBS Group Cuts L3Harris Technologies (NYSE:LHX) Price Target to $298.00

by · The Markets Daily

L3Harris Technologies (NYSE:LHX – Free Report) had its price target cut by UBS Group from $312.00 to $298.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently weighed in on LHX. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein lowered their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. BNP Paribas Exane dropped their target price 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. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Check Out Our Latest Research Report on LHX

L3Harris Technologies Price Performance

LHX opened at $285.82 on Monday. 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 $295.81 and its 200 day simple moving average is $326.26. The firm has a market cap of $53.22 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.08 and a beta of 0.51. L3Harris Technologies has a 1 year low of $262.68 and a 1 year 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 firm had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, analysts predict that L3Harris Technologies will post 11.87 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is 50.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allstate Corp raised its holdings in shares of L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Swiss National Bank boosted its holdings in L3Harris Technologies by 7.1% in the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after purchasing an additional 36,320 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in L3Harris Technologies by 23.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after purchasing an additional 41,414 shares during the period. Atria Investments Inc grew its position in L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after purchasing an additional 6,482 shares during the period. Finally, Vanguard Group Inc. raised its stake in L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after buying an additional 190,955 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

(Get Free Report)

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.

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