Bank of Nova Scotia cut its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 28.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,726 shares of the company's stock after selling 9,142 shares during the period. Bank of Nova Scotia's holdings in L3Harris Technologies were worth $6,604,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth $5,525,806,000. Bank of New York Mellon Corp bought a new position in shares of L3Harris Technologies in the second quarter worth $752,983,000. Artisan Partners Limited Partnership raised its stake in L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after purchasing an additional 1,207,334 shares in the last quarter. Deutsche Bank AG acquired a new position in L3Harris Technologies in the second quarter valued at about $174,006,000. Finally, Two Sigma Investments LP lifted its position in L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock worth $187,609,000 after purchasing an additional 521,312 shares during the period. 84.76% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on LHX shares. Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Susquehanna decreased their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, UBS Group cut their target price on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $365.00.
View Our Latest Stock Analysis on LHX
L3Harris Technologies Trading Down 0.2%
LHX opened at $262.20 on Wednesday. The company has a market cap of $48.82 billion, a P/E ratio of 26.49, a PEG ratio of 1.14 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $287.85 and its 200-day moving average is $319.37. L3Harris Technologies Inc has a 1-year low of $260.95 and a 1-year high of $379.23.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating the consensus estimate of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal 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. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. L3Harris Technologies's payout ratio is currently 50.51%.
L3Harris Technologies Company Profile
(
Free Report)
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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