Bank of America Corp DE Has $565.30 Million Stock Position in L3Harris Technologies Inc $LHX

Key Points

• Bank of America increased its L3Harris Technologies stake by 1.4% in the second quarter, owning 1.95 million shares valued at approximately $565.3 million. Institutional investors collectively hold 84.76% of the company.
• Analyst sentiment remains positive but mixed: L3Harris has a “Moderate Buy” consensus rating and an average price target of $360.83, despite several recent downgrades and target-price cuts.
• L3Harris exceeded quarterly earnings and revenue expectations, reporting $3.13 in EPS and $5.88 billion in revenue, while declaring a quarterly dividend of $1.25 per share, representing a 2.0% annualized yield.

Bank of America Corp DE boosted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,945,342 shares of the company's stock after acquiring an additional 27,610 shares during the period. Bank of America Corp DE owned 1.04% of L3Harris Technologies worth $565,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LHX. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies in the 4th quarter worth $25,000. Cedar Mountain Advisors LLC increased its stake in L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. Abound Financial LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $29,000. Tower View Wealth Management LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at $29,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 80.0% in the second quarter. Elevation Wealth Partners LLC now owns 99 shares of the company's stock valued at $29,000 after buying an additional 44 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LHX. Susquehanna reduced 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, July 31st. Jefferies Financial Group cut shares of L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price target on the stock. in a research report on Wednesday, August 26th. BNP Paribas Exane cut their price target on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Guggenheim started coverage on L3Harris Technologies in a report on Monday. They set a "buy" rating and a $365.00 price objective for the company. Finally, Melius Research downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $360.83.

L3Harris Technologies Stock Performance

NYSE LHX opened at $249.80 on Wednesday. The company has a fifty day moving average price of $276.48 and a 200-day moving average price of $309.72. The firm has a market cap of $46.52 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.59 and a beta of 0.50. 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 Inc has a 1 year low of $244.76 and a 1 year high of $379.23.

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 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 company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the firm earned $2.78 earnings per share. The firm'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, equities research analysts predict that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is 50.51%.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.

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