Baxter Bros Inc. Buys Shares of 12,962 L3Harris Technologies Inc $LHX

Key Points

• Baxter Bros Inc. acquired 12,962 shares of L3Harris Technologies in the second quarter, worth approximately $3.77 million. Institutional investors collectively own 84.76% of the company.
• L3Harris reported quarterly earnings of $3.13 per share and revenue of $5.88 billion, surpassing analyst estimates, while revenue increased 8.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $365.
• The stock opened at $291.62, down 0.1%, and remains below its 200-day moving average. L3Harris also declared a quarterly dividend of $1.25 per share, equivalent to a 1.7% annual yield.

Baxter Bros Inc. purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,962 shares of the company's stock, valued at approximately $3,767,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LHX. Allstate Corp increased its holdings in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock worth $4,106,000 after purchasing an additional 7,219 shares in the last quarter. Swiss National Bank boosted its holdings in shares of L3Harris Technologies by 7.1% during the 1st quarter. Swiss National Bank now owns 549,029 shares of the company's stock worth $189,497,000 after buying an additional 36,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company's stock worth $64,920,000 after buying an additional 41,414 shares during the period. Atria Investments Inc grew its position in shares of L3Harris Technologies by 77.9% during the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company's stock worth $4,345,000 after buying an additional 6,482 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of L3Harris Technologies by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company's stock valued at $531,416,000 after acquiring an additional 110,423 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several research analyst reports. UBS Group cut their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. BNP Paribas Exane cut their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Susquehanna dropped their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Finally, Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $365.00.

L3Harris Technologies Stock Down 0.1%

Shares of NYSE LHX opened at $291.62 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The company has a 50-day moving average price of $292.85 and a 200-day moving average price of $323.26. The stock has a market capitalization of $54.30 billion, a P/E ratio of 29.46, a P/E/G ratio of 1.10 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $262.68 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping 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 quarter in the prior year, the business posted $2.78 EPS. The firm's 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, equities research analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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 issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is currently 50.51%.

L3Harris Technologies Company Profile

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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