L3Harris Technologies (NYSE:LHX) Trading Down 0% – Time to Sell?

L3Harris Technologies, Inc. (NYSE:LHX)’s stock price was down 0% on Tuesday . The stock traded as low as $262.67 and last traded at $264.15. Approximately 82,486 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 903,390 shares. The stock had previously closed at $264.22.

Analyst Ratings Changes

A number of equities research analysts have commented on LHX shares. Wells Fargo & Company raised their target price on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Susquehanna raised their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report 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 objective on the stock in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $267.50.

L3Harris Technologies Price Performance

The firm has a market capitalization of $49.62 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock’s fifty day simple moving average is $241.43 and its 200 day simple moving average is $231.15.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the company posted $3.19 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 8,964 shares of company stock valued at $2,179,119. Company insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 86 shares during the last quarter. Archer Investment Corp grew its holdings in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. EntryPoint Capital LLC grew its holdings in shares of L3Harris Technologies by 70.4% in the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter worth $36,000. Finally, Versant Capital Management Inc boosted its position in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock worth $41,000 after buying an additional 80 shares during the period. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

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.