L3Harris Technologies (NYSE:LHX) Upgraded at Guggenheim

Guggenheim upgraded shares of L3Harris Technologies (NYSE:LHX) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

A number of other research firms also recently weighed in on LHX. UBS Group reduced their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Melius Research cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Susquehanna cut their target price on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Finally, Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Wednesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.83.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $250.99 on Monday. L3Harris Technologies has a 1 year low of $244.76 and a 1 year high of $379.23. The stock has a market capitalization of $46.74 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.59 and a beta of 0.50. The company’s 50-day moving average is $275.63 and its 200 day moving average is $308.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the business earned $2.78 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts expect that L3Harris Technologies will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is currently 50.51%.

Hedge Funds Weigh In On L3Harris Technologies

Several large investors have recently added to or reduced their stakes in LHX. Allstate Corp increased its stake in shares of L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after acquiring an additional 7,219 shares during the period. Meeder Advisory Services Inc. purchased a new position in shares of L3Harris Technologies during the second quarter worth $1,397,000. Swiss National Bank lifted its position in L3Harris Technologies by 7.1% during the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after purchasing an additional 36,320 shares during the period. Goldman Sachs Group Inc. boosted its holdings in L3Harris Technologies by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock valued at $531,416,000 after purchasing an additional 110,423 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in L3Harris Technologies by 22.3% in the first quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock valued at $661,905,000 after purchasing an additional 350,313 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.