Bank of America Corp DE Acquires 350,313 Shares of L3Harris Technologies Inc $LHX

Key Points

• Bank of America increased its L3Harris stake by 22.3% in the first quarter, adding 350,313 shares to own 1.92 million shares valued at approximately $661.9 million. Institutional investors collectively hold 84.76% of LHX stock.
• L3Harris reported strong second-quarter results, with adjusted EPS of $3.13 and revenue of $5.88 billion exceeding estimates. Management raised 2026 EPS guidance to $11.80–$12.00 and highlighted a record $42 billion backlog.
• The stock remains under pressure despite solid fundamentals: shares recently traded near $277.53, analysts’ consensus rating is “Moderate Buy” with a $368.20 target, and the company paused plans to IPO its missile-solutions business after concluding the market undervalued it.

Bank of America Corp DE raised its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 22.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,917,732 shares of the company's stock after purchasing an additional 350,313 shares during the period. Bank of America Corp DE owned 1.03% of L3Harris Technologies worth $661,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LHX. Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC increased its stake in L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock valued at $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC raised its holdings in L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock worth $4,285,000 after buying an additional 2,130 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of L3Harris Technologies in the second quarter worth approximately $856,000. Finally, CIBC Asset Management Inc lifted its stake in shares of L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after buying an additional 33,321 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies News Summary

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

• Positive Sentiment: Better-than-expected Q2 performance: L3Harris reported adjusted earnings of $3.13 per share versus the $2.80 consensus, while revenue reached $5.88 billion, exceeding estimates of $5.81 billion and increasing 8.4% year over year. Growth was broad-based, with particularly strong weapons demand. L3Harris Q2 Earnings and Revenues Beat Estimates, 2026 Outlook Raised
• Positive Sentiment: Raised outlook and record demand: Management increased its 2026 guidance to $11.80-$12.00 in earnings per share. The company also reported a record $42 billion backlog, stronger orders, wider margins and improved cash flow, offering greater visibility into future revenue. L3Harris’ Record Backlog Makes Its Stock Sell-Off Look Overdone
• Positive Sentiment: Upside in valuation: Susquehanna maintained a positive rating despite reducing its price target from $410 to $350, still implying substantial upside. Zacks also characterized L3Harris as a strong value stock, which may attract investors seeking defense exposure at a lower valuation. Here’s Why L3Harris Is a Strong Value Stock
• Neutral Sentiment: Analyst views remain mixed: BNP Paribas Exane lowered its target from $330 to $310 and assigned a neutral rating, while still indicating potential appreciation from recent trading levels. Another report cited a $310 target from the firm. L3Harris Given New Price Target at BNP Paribas Exane
• Negative Sentiment: Capital-markets setback and recent weakness: L3Harris paused plans for an IPO of its missile-solutions business, saying the market undervalues the unit. The decision may delay a potential valuation catalyst, while the stock recently reached a new 52-week low after an analyst downgrade. L3Harris Pauses IPO of Missile Solutions Business

L3Harris Technologies Trading Up 2.1%

Shares of LHX stock opened at $277.53 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.89 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a 12-month low of $262.68 and a 12-month high of $379.23. The stock has a market capitalization of $51.70 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.34 and a beta of 0.51. The firm's 50 day moving average is $297.54 and its 200 day moving average is $327.59.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.87 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 yield of 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio is 50.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LHX. Susquehanna decreased their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a report on Friday. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Finally, Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Two investment 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. According to MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus price target of $368.20.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company's stock.

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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