2,591,220 Shares in L3Harris Technologies Inc $LHX Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 2.59 million L3Harris shares in the second quarter, valued at approximately $753 million and representing about 1.39% of the company. Institutional investors collectively own 84.76% of L3Harris.
• L3Harris exceeded quarterly expectations, reporting $3.13 in earnings per share and $5.88 billion in revenue, with revenue up 8.4% year over year. The company issued fiscal 2026 EPS guidance of $11.80–$12.00.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $365, despite recent target reductions.

Bank of New York Mellon Corp purchased a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,591,220 shares of the company's stock, valued at approximately $752,983,000. Bank of New York Mellon Corp owned approximately 1.39% of L3Harris Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in L3Harris Technologies in the 4th quarter valued at $25,000. Motiv8 Investments LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $25,000. Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after buying an additional 74 shares during the last quarter. Finally, Abound Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $270.08 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The firm has a 50-day moving average of $290.46 and a 200-day moving average of $321.05. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23. The company has a market cap of $50.29 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.20 and a beta of 0.51.

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 the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. During the same period in the previous year, the company earned $2.78 earnings per share. The firm'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. Equities research analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. L3Harris Technologies's dividend payout ratio is currently 50.51%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a report on Tuesday. UBS Group dropped their price target 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. Susquehanna cut their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research note on Friday, July 31st. Sanford C. Bernstein decreased their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Finally, Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $365.00.

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.

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