The Manufacturers Life Insurance Company decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 440,115 shares of the company’s stock after selling 45,720 shares during the period. The Manufacturers Life Insurance Company owned about 0.24% of L3Harris Technologies worth $127,893,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in L3Harris Technologies by 27,873.4% during the 2nd quarter. California State Teachers Retirement System now owns 83,761,115 shares of the company’s stock worth $24,340,142,000 after acquiring an additional 83,461,684 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $5,525,806,000. Capital World Investors raised its holdings in shares of L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after purchasing an additional 329,910 shares during the last quarter. State Street Corp lifted its position in shares of L3Harris Technologies by 1.6% during the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after purchasing an additional 106,430 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on LHX. Susquehanna reduced their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research report on Friday, July 31st. BNP Paribas Exane dropped their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Melius Research downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Jefferies Financial Group lowered 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. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $360.45.
L3Harris Technologies Price Performance
LHX opened at $245.42 on Friday. The firm has a 50-day moving average price of $278.43 and a 200-day moving average price of $311.41. L3Harris Technologies Inc has a twelve month low of $244.76 and a twelve month high of $379.23. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $45.70 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.58 and a beta of 0.50.
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. L3Harris Technologies’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current year.
L3Harris Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.0%. L3Harris Technologies’s dividend payout ratio is currently 50.51%.
L3Harris Technologies Profile
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.
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