L3Harris Technologies (NYSE:LHX) Sets New 52-Week Low - Here's Why

Key Points

• L3Harris Technologies shares hit a new 52-week low, trading as low as $257.29, well below their 50-day and 200-day moving averages of $283.48 and $315.33, respectively.
• Despite the sell-off, analysts maintain a “Moderate Buy” consensus with an average price target of $360.45, although several firms recently downgraded the stock or reduced their targets.
• The company reported better-than-expected quarterly results, including $3.13 in EPS and $5.88 billion in revenue, while revenue rose 8.4% year over year. L3Harris also declared a $1.25 quarterly dividend, representing a 1.9% yield.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $257.29 and last traded at $258.0720, with a volume of 81159 shares changing hands. The stock had previously closed at $262.14.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. UBS Group lowered their price target on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Jefferies Financial Group lowered L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a research report on Wednesday, August 26th. Finally, Susquehanna lowered their target price on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $360.45.

L3Harris Technologies Stock Performance

The stock has a fifty day simple moving average of $283.48 and a 200-day simple moving average of $315.33. The stock has a market cap of $47.83 billion, a P/E ratio of 25.93, a PEG ratio of 1.67 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS 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 company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $2.78 earnings per share. The company'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. On average, equities analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is currently 50.51%.

Institutional Trading of L3Harris Technologies

A number of institutional investors have recently made changes to their positions in LHX. Fideuram Asset Management Ireland dac acquired a new stake in L3Harris Technologies in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of L3Harris Technologies in the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $25,000. NBH Bank acquired a new stake in shares of L3Harris Technologies in the second quarter valued at about $26,000. Finally, Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

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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