L3Harris Technologies (NYSE:LHX) Trading Down 6.7% – Should You Sell?

L3Harris Technologies Inc (NYSE:LHX)’s share price was down 6.7% on Thursday . The stock traded as low as $292.42 and last traded at $292.1660. 1,219,843 shares were traded during trading, a decline of 15% from the average daily volume of 1,432,258 shares. The stock had previously closed at $313.17.

Analyst Ratings Changes

Several brokerages have recently issued reports on LHX. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. UBS Group decreased their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Stock Up 0.1%

The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $317.53 and its 200-day moving average price is $328.08. The stock has a market capitalization of $54.95 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the business posted $2.41 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC bought a new position in shares of L3Harris Technologies in the first quarter worth approximately $139,000. Empowered Funds LLC increased its position in shares of L3Harris Technologies by 17.0% during the first quarter. Empowered Funds LLC now owns 23,981 shares of the company’s stock valued at $8,277,000 after acquiring an additional 3,491 shares in the last quarter. Militia Capital Management LLC purchased a new position in L3Harris Technologies in the 1st quarter worth approximately $1,532,000. Rathbones Group PLC raised its holdings in L3Harris Technologies by 123.3% in the 1st quarter. Rathbones Group PLC now owns 5,814 shares of the company’s stock worth $2,007,000 after acquiring an additional 3,210 shares during the last quarter. Finally, DV Trading LLC lifted its position in L3Harris Technologies by 200.0% in the 1st quarter. DV Trading LLC now owns 720 shares of the company’s stock valued at $249,000 after acquiring an additional 480 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.