L3Harris Technologies (NYSE:LHX) Reaches New 52-Week Low After Analyst Downgrade

Key Points

• L3Harris shares hit a new 52-week low, falling to $234.59 after Wall Street Zen downgraded the stock from “buy” to “hold.” Despite recent downgrades, analysts maintain a “Moderate Buy” consensus with an average price target of $355.92.
• Institutional investors hold 84.76% of L3Harris stock, with major positions added or increased by BlackRock, Bank of New York Mellon, Artisan Partners, Deutsche Bank, and Man Group.
• The company reported quarterly EPS of $3.13, exceeding estimates, while revenue rose 8.4% year over year to $5.88 billion. L3Harris also maintains a quarterly dividend of $1.25, equivalent to a 2.1% annual yield.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report)'s share price reached a new 52-week low during trading on Monday after Wall Street Zen downgraded the stock from a buy rating to a hold rating. The company traded as low as $234.59 and last traded at $236.9690, with a volume of 78450 shares changing hands. The stock had previously closed at $237.69.

A number of other equities research analysts also recently issued reports on LHX. Guggenheim initiated coverage on L3Harris Technologies in a research note on Monday, September 14th. They set a "buy" rating and a $365.00 price target for the company. Jefferies Financial Group downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price objective on the stock. in a report on Wednesday, August 26th. Argus lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Friday. Susquehanna dropped 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 note on Friday, July 31st. Finally, BNP Paribas Exane decreased their target price on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $355.92.

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $5,525,806,000. Bank of New York Mellon Corp purchased a new stake in L3Harris Technologies in the 2nd quarter worth $752,983,000. Artisan Partners Limited Partnership boosted its holdings in shares of L3Harris Technologies by 174.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after purchasing an additional 1,207,334 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of L3Harris Technologies during the second quarter valued at about $174,006,000. Finally, Man Group plc grew its position 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 in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 0.4%

The business has a 50-day moving average of $269.36 and a 200 day moving average of $302.80. The company has a market capitalization of $44.43 billion, a PE ratio of 24.06, a P/E/G ratio of 1.52 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. L3Harris Technologies's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. L3Harris Technologies's dividend payout ratio is 50.51%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.

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