Wall Street Zen lowered shares of L3Harris Technologies (NYSE:LHX – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
Several other brokerages have also weighed in on LHX. Jefferies Financial Group lowered 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Weiss Ratings downgraded L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 10th. BNP Paribas Exane reduced their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, UBS Group reduced their price target on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.92.
Check Out Our Latest Research Report on LHX
L3Harris Technologies Trading Down 0.4%
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping 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 firm had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $2.78 earnings per share. The company’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. As a group, research analysts predict that L3Harris Technologies 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. The ex-dividend date was Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.1%. L3Harris Technologies’s dividend payout ratio is currently 50.51%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $5,525,806,000. Bank of New York Mellon Corp acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $752,983,000. Artisan Partners Limited Partnership increased its stake in L3Harris Technologies by 174.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock worth $557,933,000 after purchasing an additional 1,207,334 shares in the last quarter. Deutsche Bank AG bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $174,006,000. Finally, Man Group plc raised its holdings in L3Harris Technologies by 5,286.7% during the 2nd quarter. Man Group plc now owns 563,720 shares of the company’s stock worth $163,811,000 after buying an additional 553,255 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.
About L3Harris Technologies
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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