L3Harris Technologies (NYSE:LHX) Stock Price Down 0.7% – Should You Sell?

Shares of L3Harris Technologies, Inc. (NYSE:LHX) traded down 0.7% on Tuesday . The stock traded as low as $220.00 and last traded at $220.58. 121,957 shares changed hands during trading, a decline of 87% from the average session volume of 910,084 shares. The stock had previously closed at $222.04.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LHX. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Argus upgraded 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. Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Price Performance

The business has a fifty day moving average of $243.71 and a 200-day moving average of $234.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market capitalization of $39.95 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. On average, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.20%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 7,740 shares of company stock worth $1,866,384 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. increased its stake in L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the third quarter worth approximately $36,000. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of L3Harris Technologies in the 2nd quarter valued at approximately $57,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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.