BlackRock Inc. Makes New Investment in L3Harris Technologies Inc $LHX

Key Points

• BlackRock acquired 19.0 million L3Harris shares worth approximately $5.53 billion in the second quarter, giving it a 10.21% stake. Institutional investors collectively own 84.76% of the company.
• L3Harris reported quarterly earnings of $3.13 per share, exceeding the $2.80 consensus estimate, while revenue rose 8.4% year over year to $5.88 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $365.
• The company declared a quarterly dividend of $1.25, equivalent to $5.00 annually and a 1.8% yield. Shares recently traded at $278.05, near their 52-week low of $262.68 and below both their 50-day and 200-day moving averages.

BlackRock Inc. bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,015,816 shares of the company's stock, valued at approximately $5,525,806,000. BlackRock Inc. owned 10.21% of L3Harris Technologies as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Succession Financial Inc. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $267,000. Pallas Capital Advisors LLC acquired a new position in L3Harris Technologies during the 2nd quarter valued at approximately $679,000. Deutsche Bank AG bought a new position in L3Harris Technologies during the 2nd quarter worth $174,006,000. Perigon Wealth Management LLC bought a new position in L3Harris Technologies during the 2nd quarter worth $2,668,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in L3Harris Technologies in the second quarter worth $581,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. Susquehanna cut their target price 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. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. BNP Paribas Exane dropped their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Finally, UBS Group reduced their target price on shares of 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 analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $365.00.

L3Harris Technologies Price Performance

Shares of LHX opened at $278.05 on Tuesday. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23. The stock's fifty day moving average is $292.38 and its 200-day moving average is $322.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The firm has a market capitalization of $51.78 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping 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 company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is 50.51%.

Key Headlines Impacting L3Harris Technologies

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

• Positive Sentiment: L3Harris appointed insider Sam Mehta as president and chief executive officer effective immediately. Mehta’s familiarity with the business could help provide continuity and limit disruption while the company manages the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: A new Rhode Island facility is expanding L3Harris’ undersea-defense capabilities, including advanced training systems for U.S. and allied fleets. The investment may support long-term growth in an area benefiting from increased defense demand. Can L3Harris' New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: The leadership transition is effective immediately, and additional details about the conduct violation were not disclosed. Investors will likely watch for information on Mehta’s strategic priorities, the board’s governance process and any effect on customer or government relationships. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct
• Negative Sentiment: Kubasik’s departure is particularly sensitive because he previously left Lockheed Martin after acknowledging an improper relationship with a subordinate. The repeat conduct-related controversy may heighten reputational and governance concerns surrounding L3Harris. L3Harris ousts CEO Christopher Kubasik after probe finds he violated code of conduct

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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