32,964 Shares in L3Harris Technologies Inc $LHX Acquired by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC acquired a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,964 shares of the company's stock, valued at approximately $9,579,000. L3Harris Technologies comprises 2.1% of Alpine Woods Capital Investors LLC's investment portfolio, making the stock its 7th largest position.

A number of other large investors have also bought and sold shares of the company. Meeder Advisory Services Inc. purchased a new position in shares of L3Harris Technologies during the 2nd quarter valued at $1,397,000. Meeder Asset Management Inc. bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $664,000. Citizens Financial Group Inc. RI purchased a new stake in L3Harris Technologies during the second quarter valued at about $2,984,000. Texas Capital Bank Wealth Management Services Inc bought a new position in L3Harris Technologies during the second quarter worth about $485,000. Finally, Pavion Blue Capital LLC purchased a new position in shares of L3Harris Technologies in the second quarter worth about $262,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LHX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Sanford C. Bernstein lowered their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. UBS Group dropped their target price on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Finally, Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $365.00.

Key Stories Impacting L3Harris Technologies

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Experienced successor appointed immediately: L3Harris named Sam Mehta president and CEO effective immediately. Mehta is an aerospace and defense executive with company experience, which may reduce uncertainty around operations and customer relationships during the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: Defense technology demonstrated: At the Army’s Project Convergence-Capstone 6 exercise, L3Harris showcased interoperable communications, Link 16 integration, sensors and effectors designed for coordinated operations in contested environments. The event supports the company’s positioning in multi-domain defense systems and potential future government contracts. L3Harris Demonstrates Multi-Domain Supremacy at Annual Project Convergence Exercise
• Positive Sentiment: Undersea-defense expansion continues: A new Rhode Island facility is intended to support advanced training systems for U.S. and allied fleets, potentially strengthening L3Harris’s undersea-defense growth prospects. Can L3Harris' New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: Operations were not cited as the issue: The board said Kubasik’s departure followed an investigation into a conduct violation unrelated to the company’s financial reporting. Investors will likely focus on whether the leadership change affects execution, government contracts or strategic priorities.
• Negative Sentiment: CEO’s abrupt dismissal weighs on confidence: Kubasik was removed after the board determined he violated L3Harris’s code of conduct. The sudden change creates governance and continuity concerns, while reports that he previously left Lockheed Martin over an improper relationship may intensify reputational concerns. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct

L3Harris Technologies Price Performance

LHX stock opened at $280.26 on Wednesday. The firm has a 50 day moving average of $291.83 and a 200-day moving average of $322.11. The firm has a market capitalization of $52.19 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $262.68 and a 12 month high of $379.23. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its 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 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 analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm posted $2.78 EPS. L3Harris Technologies's revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's payout ratio is 50.51%.

L3Harris Technologies Company Profile

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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