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

Key Points

• L3Harris shares hit a new 52-week low, trading as low as $261.62, well below their 50-day and 200-day moving averages of $289.65 and $320.54, respectively.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $365, despite several recent target reductions.
• The company reported quarterly results above expectations, including $3.13 in earnings per share and $5.88 billion in revenue, while declaring a quarterly dividend of $1.25, equivalent to a 1.9% annual yield.

Shares of L3Harris Technologies Inc (NYSE:LHX - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $261.62 and last traded at $263.4290, with a volume of 304749 shares changing hands. The stock had previously closed at $266.73.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research reports. Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. BNP Paribas Exane cut their price objective on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Susquehanna reduced their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $365.00.

L3Harris Technologies Stock Performance

The stock has a market capitalization of $48.88 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $289.65 and a 200-day moving average of $320.54.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping 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 company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the business earned $2.78 EPS. L3Harris Technologies'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. Equities analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. L3Harris Technologies's payout ratio is currently 50.51%.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allstate Corp raised its position in L3Harris Technologies by 106.7% in 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 period. Swiss National Bank boosted its position in shares of 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 buying an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of L3Harris Technologies by 23.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company's stock valued at $64,920,000 after buying an additional 41,414 shares in the last quarter. Atria Investments Inc raised its holdings in shares of L3Harris Technologies by 77.9% during the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company's stock valued at $4,345,000 after buying an additional 6,482 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in L3Harris Technologies by 6.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company's stock worth $531,416,000 after acquiring an additional 110,423 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

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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