L3Harris Technologies (NYSE:LHX) Hits New 52-Week High - What's Next?

Key Points

• L3Harris Technologies' stock reached a new 52-week high of $306.28 during mid-day trading, closing at $305.49 with a trading volume of 280,968 shares.
• Analysts have shown strong support for the stock, with fourteen rating it as a Buy and revising target prices upward, including Citigroup increasing its target from $300 to $323.
• The company reported strong earnings with $2.78 EPS, exceeding expectations and showing a revenue increase of 2.4% year-over-year. It also announced a quarterly dividend of $1.20 per share.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $306.28 and last traded at $305.49, with a volume of 280968 shares. The stock had previously closed at $301.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein restated an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Citigroup lifted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Robert W. Baird boosted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $279.47.

L3Harris Technologies Trading Up 1.3%

The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market cap of $57.14 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. The business has a 50 day moving average price of $280.33 and a 200-day moving average price of $251.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion during 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 company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $1.20 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company's stock.

Institutional Trading of L3Harris Technologies

Hedge funds have recently made changes to their positions in the stock. Gold Investment Management Ltd. raised its stake in L3Harris Technologies by 108.4% during the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company's stock valued at $437,000 after acquiring an additional 904 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company's stock valued at $48,508,000 after acquiring an additional 33,019 shares in the last quarter. BankPlus Trust Department raised its stake in L3Harris Technologies by 6.9% during the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company's stock valued at $1,468,000 after acquiring an additional 379 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in L3Harris Technologies by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after acquiring an additional 216 shares in the last quarter. Finally, Dean Capital Management raised its stake in L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company's stock valued at $2,009,000 after acquiring an additional 986 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Company Profile

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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