Aljian Capital Management LLC Acquires New Position in L3Harris Technologies Inc $LHX

Aljian Capital Management LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,705 shares of the company's stock, valued at approximately $2,239,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after acquiring an additional 190,955 shares during the period. BlackRock Inc. purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $5,525,806,000. Capital World Investors grew its holdings in 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 period. State Street Corp increased its position in L3Harris Technologies by 1.6% during the fourth quarter. State Street Corp now owns 8,919,368 shares of the company's stock worth $2,618,459,000 after purchasing an additional 141,442 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in L3Harris Technologies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock worth $1,505,444,000 after purchasing an additional 106,430 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Price Performance

LHX opened at $280.26 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a 52-week low of $262.68 and a 52-week high of $379.23. The company has a 50 day moving average of $291.83 and a two-hundred day moving average of $322.11. The company has a market cap of $52.19 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) 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 company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $2.78 earnings per share. The business's quarterly revenue 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 expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is 50.51%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a report on Tuesday. UBS Group cut 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. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Finally, Sanford C. Bernstein lowered their price target on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $365.00.

More L3Harris Technologies News

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source