Concurrent Investment Advisors LLC Increases Stake in L3Harris Technologies Inc $LHX

Key Points

• Concurrent Investment Advisors increased its L3Harris Technologies stake by 29.4% in the second quarter, adding 12,059 shares to hold 53,138 shares worth approximately $15.4 million. Institutional investors collectively own 84.76% of the company.
• Analysts remain generally positive, with L3Harris carrying a consensus “Moderate Buy” rating and an average price target of $360.45, despite several recent target-price reductions.
• L3Harris reported quarterly EPS of $3.13, beating estimates by $0.33, while revenue rose 8.4% year over year to $5.88 billion. The company also declared a $1.25 quarterly dividend, equal to a 1.9% annualized yield.

Concurrent Investment Advisors LLC lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 29.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,138 shares of the company's stock after acquiring an additional 12,059 shares during the quarter. Concurrent Investment Advisors LLC's holdings in L3Harris Technologies were worth $15,441,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LHX. Cedar Mountain Advisors LLC increased its holdings in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after buying an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in L3Harris Technologies during the fourth quarter worth $25,000. Tower View Wealth Management LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $29,000. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies during the 4th quarter valued at $25,000. Finally, Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter valued at $25,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

L3Harris Technologies Stock Down 2.2%

Shares of LHX stock opened at $256.45 on Friday. L3Harris Technologies Inc has a 1-year low of $256.05 and a 1-year high of $379.23. The stock's fifty day moving average price is $282.78 and its 200 day moving average price is $314.92. 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 market cap of $47.75 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.67 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company posted $2.78 EPS. The firm's quarterly 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, research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal 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 dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. L3Harris Technologies's dividend payout ratio is 50.51%.

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.

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