L3Harris Technologies (NYSE:LHX) Downgraded by TheStreet

TheStreet downgraded shares of L3Harris Technologies (NYSE:LHX) from a b rating to a c rating in a research report report published on Friday morning, TheStreetRatingsTable reports.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group upped their target price on L3Harris Technologies from $235.00 to $250.00 and gave the stock a buy rating in a report on Monday. Cowen reissued a buy rating and issued a $210.00 price target on shares of L3Harris Technologies in a research note on Friday, February 5th. The Goldman Sachs Group reissued a neutral rating and issued a $208.00 price target on shares of L3Harris Technologies in a research note on Wednesday, April 14th. Robert W. Baird cut L3Harris Technologies from an outperform rating to a neutral rating and decreased their price target for the company from $242.00 to $210.00 in a research note on Thursday, January 7th. Finally, Credit Suisse Group increased their price target on L3Harris Technologies from $200.00 to $223.00 and gave the company an outperform rating in a research note on Monday, April 19th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $226.21.

NYSE:LHX opened at $211.74 on Friday. The stock has a fifty day moving average price of $204.51 and a 200-day moving average price of $189.69. The company has a market cap of $43.53 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 0.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.18 and a current ratio of 1.37. L3Harris Technologies has a fifty-two week low of $158.09 and a fifty-two week high of $213.00.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, April 30th. The company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.26. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the previous year, the firm earned $2.80 EPS. L3Harris Technologies’s revenue was down 1.3% on a year-over-year basis. Research analysts predict that L3Harris Technologies will post 11.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $1.02 per share. The ex-dividend date is Friday, May 28th. This represents a $4.08 annualized dividend and a dividend yield of 1.93%. L3Harris Technologies’s payout ratio is 40.48%.

Several institutional investors have recently made changes to their positions in the stock. Ascension Asset Management LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at about $2,256,000. Ieq Capital LLC bought a new position in L3Harris Technologies in the first quarter worth approximately $237,000. Valmark Advisers Inc. boosted its holdings in L3Harris Technologies by 2.1% in the first quarter. Valmark Advisers Inc. now owns 4,272 shares of the company’s stock worth $866,000 after acquiring an additional 87 shares in the last quarter. Pillar Pacific Capital Management LLC boosted its holdings in L3Harris Technologies by 5.2% in the first quarter. Pillar Pacific Capital Management LLC now owns 32,576 shares of the company’s stock worth $6,602,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its holdings in L3Harris Technologies by 982.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 34,354 shares of the company’s stock worth $6,963,000 after acquiring an additional 31,179 shares in the last quarter. Institutional investors own 80.58% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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