Goelzer Investment Management Inc. lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 77.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,095 shares of the company’s stock after selling 3,779 shares during the quarter. Goelzer Investment Management Inc.’s holdings in L3Harris Technologies were worth $259,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Meeder Advisory Services Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter valued at about $1,397,000. Swiss National Bank boosted its holdings in L3Harris Technologies by 7.1% during the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after buying an additional 36,320 shares in the last quarter. Bank of America Corp DE boosted its holdings in L3Harris Technologies by 22.3% during the first quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock worth $661,905,000 after buying an additional 350,313 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in L3Harris Technologies by 29.4% during the second quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock worth $15,441,000 after buying an additional 12,059 shares during the period. Finally, Community Trust & Investment Co. grew its position in L3Harris Technologies by 8.2% during the third quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock worth $15,101,000 after buying an additional 4,828 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on LHX shares. TD Cowen dropped their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Guggenheim assumed coverage on L3Harris Technologies in a research note on Monday, September 14th. They set a “buy” rating and a $365.00 price target on the stock. UBS Group lowered their price target on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Finally, Argus downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $341.71.
View Our Latest Analysis on L3Harris Technologies
L3Harris Technologies Price Performance
Shares of NYSE:LHX opened at $248.35 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The business’s fifty day moving average price is $254.25 and its two-hundred day moving average price is $290.64. The stock has a market cap of $46.24 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. L3Harris Technologies Inc has a one year low of $232.34 and a one year high of $379.23.
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly 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 company had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $2.78 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.89 EPS for the current fiscal year.
L3Harris Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, September 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 50.51%.
About L3Harris Technologies
L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.
The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.
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