L3Harris Technologies (NYSE:LHX) Reaches New 1-Year High – Here’s Why

L3Harris Technologies Inc (NYSE:LHX)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $315.06 and last traded at $309.7850, with a volume of 220310 shares trading hands. The stock had previously closed at $304.48.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LHX. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Wall Street Zen raised L3Harris Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, Truist Financial boosted their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.93.

L3Harris Technologies Trading Down 1.5%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a 50-day moving average of $288.28 and a 200-day moving average of $280.42. The firm has a market capitalization of $57.96 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 1.95 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 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 on 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 transaction, 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 through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clark Financial Services Group Inc. BD increased its holdings in L3Harris Technologies by 1.9% in the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,909 shares of the company’s stock worth $594,000 after purchasing an additional 36 shares in the last quarter. Cyndeo Wealth Partners LLC grew its position in shares of L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares during the period. Twin Lakes Capital Management LLC lifted its position in shares of L3Harris Technologies by 0.3% during the 3rd quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after acquiring an additional 38 shares during the period. Lantern Wealth Advisors LLC boosted its stake in L3Harris Technologies by 0.8% during the third quarter. Lantern Wealth Advisors LLC now owns 4,699 shares of the company’s stock worth $1,435,000 after acquiring an additional 38 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after purchasing an additional 39 shares during the period. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

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.