L3Harris Technologies (NYSE:LHX) Shares Gap Up – Still a Buy?

Shares of L3Harris Technologies Inc (NYSE:LHX) gapped up before the market opened on Thursday . The stock had previously closed at $309.76, but opened at $332.93. L3Harris Technologies shares last traded at $334.0870, with a volume of 822,116 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Wall Street Zen raised shares of L3Harris Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. UBS Group boosted their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Finally, BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.29.

L3Harris Technologies Stock Performance

The firm’s fifty day moving average price is $288.74 and its 200 day moving average price is $280.62. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $61.33 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 1.97 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.5%. L3Harris Technologies’s payout ratio is 51.56%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds have recently modified their holdings of the company. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies in the 1st quarter worth approximately $26,000. Kiker Wealth Management LLC raised its position in shares of L3Harris Technologies by 137.0% in the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Caitlin John LLC bought a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $28,000. JPL Wealth Management LLC acquired a new position in L3Harris Technologies during the 3rd quarter valued at $29,000. Finally, Triumph Capital Management bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $31,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.