Ally Financial Inc. Makes New Investment in L3Harris Technologies Inc $LHX

Ally Financial Inc. acquired a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,000 shares of the company's stock, valued at approximately $1,453,000.

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

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $267.03 on Monday. The business has a 50 day moving average of $289.65 and a 200 day moving average of $320.54. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The company has a market cap of $49.72 billion, a PE ratio of 26.97, a P/E/G ratio of 1.16 and a beta of 0.51. 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 (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, beating 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 quarter in the previous year, the business posted $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. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently commented on LHX. Sanford C. Bernstein decreased their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Susquehanna lowered their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research note on Friday, July 31st. Finally, BNP Paribas Exane dropped their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. 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. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average 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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