L3Harris Technologies (NYSE:LHX) Hits New 1-Year High - What's Next?

Key Points

• L3Harris Technologies recently reached a new 52-week high of $288.02, closing at $286.99 with significant trading volume of 44,575 shares.
• Thirteen investment analysts have rated the stock as a Buy, while five have given it a Hold rating, leading to a consensus price target of $279.47.
• In a recent earnings report, the company achieved $2.78 EPS, exceeding estimates, and has set a fiscal year 2025 guidance of $10.400-$10.600 EPS.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $288.02 and last traded at $286.99, with a volume of 44575 shares. The stock had previously closed at $284.32.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LHX. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Truist Financial upped their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, UBS Group boosted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Trading Up 0.4%

The company has a fifty day moving average of $273.95 and a 200-day moving average of $244.93. The company has a market capitalization of $53.40 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.08 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business's revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, September 5th. L3Harris Technologies's payout ratio is currently 53.63%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of L3Harris Technologies

Several large investors have recently added to or reduced their stakes in LHX. Nuveen LLC purchased a new stake in L3Harris Technologies in the 1st quarter valued at $299,157,000. Bank of New York Mellon Corp grew its holdings in shares of L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company's stock worth $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. AGF Management Ltd. purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth $324,940,000. Boston Partners grew its holdings in shares of L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company's stock worth $504,160,000 after purchasing an additional 838,546 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in shares of L3Harris Technologies by 8,284.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company's stock worth $194,482,000 after purchasing an additional 766,075 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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