California State Teachers Retirement System Has $24.34 Billion Stock Position in L3Harris Technologies Inc $LHX

Key Points

• CalSTRS dramatically increased its L3Harris Technologies position by 27,873.4% in the second quarter, acquiring 83.46 million additional shares. Its 83.76 million-share stake was valued at approximately $24.34 billion and represented 44.98% of the company.
• Analysts maintain a generally positive outlook, with L3Harris receiving a consensus “Moderate Buy” rating and an average price target of $360.45, despite several recent target-price reductions.
• L3Harris exceeded quarterly expectations, reporting $3.13 in EPS and $5.88 billion in revenue, up 8.4% year over year. The company also declared a $1.25 quarterly dividend, equivalent to a 1.9% annual yield.

California State Teachers Retirement System boosted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 27,873.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,761,115 shares of the company's stock after acquiring an additional 83,461,684 shares during the period. California State Teachers Retirement System owned 44.98% of L3Harris Technologies worth $24,340,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its position in L3Harris Technologies by 1,233.3% in 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 during the period. University of Texas Texas AM Investment Management Co. acquired a new position in L3Harris Technologies during the fourth quarter worth $25,000. Tower View Wealth Management LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at $29,000. Fideuram Asset Management Ireland dac acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at about $25,000. Finally, Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at about $25,000. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LHX shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. UBS Group decreased their price objective on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Susquehanna lowered their price objective on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research note on Friday, July 31st. BNP Paribas Exane dropped their target price on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $360.45.

L3Harris Technologies Price Performance

LHX opened at $256.45 on Tuesday. L3Harris Technologies Inc has a fifty-two week low of $256.05 and a fifty-two week high of $379.23. The firm has a market capitalization of $47.75 billion, a P/E ratio of 25.90, a PEG ratio of 1.64 and a beta of 0.50. The company's 50-day moving average is $282.12 and its 200 day moving average is $314.08. 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 (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is presently 50.51%.

L3Harris Technologies 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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