L3Harris Technologies (NYSE:LHX) Stock Price Down 0.3% – Should You Sell?

L3Harris Technologies, Inc. (NYSE:LHX)’s share price fell 0.3% on Friday . The stock traded as low as $222.32 and last traded at $223.62. 121,382 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 907,780 shares. The stock had previously closed at $224.35.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial raised their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $269.13.

L3Harris Technologies Trading Down 0.5 %

The business’s fifty day simple moving average is $245.54 and its two-hundred day simple moving average is $234.75. The company has a market cap of $42.33 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 1.91 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 earnings per share. On average, equities analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now directly owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently made changes to their positions in LHX. OneDigital Investment Advisors LLC boosted its holdings in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after buying an additional 40 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after buying an additional 42 shares during the last quarter. Blossom Wealth Management boosted its position in L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares during the period. Nicholas Hoffman & Company LLC. grew its holdings in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds 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.