7,766 Shares in L3Harris Technologies Inc $LHX Purchased by ASK Capital Investment Managers LLC

Key Points

• ASK Capital Investment Managers purchased 7,766 L3Harris shares worth approximately $1.84 million in the third quarter, making the stock its 18th-largest holding. Institutional investors collectively own 84.76% of L3Harris.
• L3Harris reported several positive business developments, including a $250 million GMLRS propulsion contract, initial VAMPIRE counter-drone deliveries to the U.S. Army, and progress on its Red Wolf and Wolf munition programs.
• The stock opened at $234.38, near its one-year low, despite the company beating quarterly earnings and revenue estimates. Analysts maintain a “Moderate Buy” consensus, while L3Harris pays a $5.00 annualized dividend yielding about 2.1%.

ASK Capital Investment Managers LLC purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,766 shares of the company's stock, valued at approximately $1,839,000. L3Harris Technologies accounts for approximately 2.0% of ASK Capital Investment Managers LLC's holdings, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. BlackRock Inc. purchased a new stake in shares of L3Harris Technologies during the second quarter worth $5,525,806,000. State Street Corp boosted its holdings in L3Harris Technologies by 2.9% in the second quarter. State Street Corp now owns 9,097,353 shares of the company's stock valued at $2,643,600,000 after purchasing an additional 252,662 shares during the period. Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 7.1% in the second quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company's stock valued at $1,367,832,000 after purchasing an additional 313,431 shares during the period. Bank of New York Mellon Corp purchased a new position in L3Harris Technologies in the second quarter valued at $752,983,000. Finally, Bank of America Corp DE grew its stake in L3Harris Technologies by 1.4% during the 2nd quarter. Bank of America Corp DE now owns 1,945,342 shares of the company's stock worth $565,297,000 after purchasing an additional 27,610 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Key Headlines Impacting L3Harris Technologies

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

• Positive Sentiment: L3Harris received a $250 million follow-on contract from Lockheed Martin to produce Guided Multiple Launch Rocket System (GMLRS) propulsion units. The award represents the highest production quantity in the program’s history, supporting backlog visibility and indicating strong demand for L3Harris’ missile-propulsion capabilities. L3Harris Awarded Solid Rocket Motor Contract with Record Production
• Positive Sentiment: The company delivered its first VAMPIRE counter-drone systems to the U.S. Army. Initial deliveries validate L3Harris’ role in the rapidly expanding counter-unmanned-aircraft market and could lead to additional deployments and follow-on orders. L3Harris Delivers First VAMPIRE Units to US Army for Drone Defense
• Positive Sentiment: L3Harris and advanced manufacturer Divergent signed a teaming agreement to expand production of affordable “Wolf” mass munitions. The partnership is intended to use advanced manufacturing to increase production capacity and improve scalability, potentially positioning L3Harris for future procurement growth. L3Harris and Divergent Sign Teaming Agreement
• Positive Sentiment: The U.S. Army and L3Harris successfully demonstrated the first Red Wolf flight from an MH-60 helicopter, an important milestone for the company’s unmanned and air-launched systems. L3Harris and US Army Demonstrate First Red Wolf Flight
• Positive Sentiment: Goldman Sachs maintained a Buy rating on L3Harris Technologies (LHX), offering continued sell-side support as the company adds contract wins and production milestones. Goldman Sachs Remains a Buy on L3Harris Technologies

L3Harris Technologies Stock Down 1.6%

L3Harris Technologies stock opened at $234.38 on Wednesday. The stock's fifty day moving average is $256.96 and its two-hundred day moving average is $292.45. The stock has a market cap of $43.64 billion, a PE ratio of 20.88, a P/E/G ratio of 1.52 and a beta of 0.50. L3Harris Technologies Inc has a 1-year low of $232.34 and a 1-year high of $379.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.91 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.1%. L3Harris Technologies's dividend payout ratio (DPR) is presently 50.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group cut L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a research note on Wednesday, August 26th. Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. BNP Paribas Exane cut 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 note on Thursday, July 30th. TD Cowen reduced their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $350.86.

L3Harris Technologies Company Profile

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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