Danske Bank A S Sells 4,522 Shares of L3Harris Technologies Inc $LHX

Danske Bank A S trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,068 shares of the company's stock after selling 4,522 shares during the quarter. Danske Bank A S's holdings in L3Harris Technologies were worth $16,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in L3Harris Technologies during the second quarter worth $5,525,806,000. Bank of New York Mellon Corp bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $752,983,000. Artisan Partners Limited Partnership increased its position in shares of L3Harris Technologies by 174.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock worth $557,933,000 after purchasing an additional 1,207,334 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth about $174,006,000. Finally, Two Sigma Investments LP lifted its holdings in L3Harris Technologies by 560.7% during the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock valued at $187,609,000 after purchasing an additional 521,312 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LHX shares. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. BNP Paribas Exane reduced 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday. Finally, Susquehanna cut their price objective on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $365.00.

L3Harris Technologies Stock Down 2.5%

Shares of NYSE:LHX opened at $270.08 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The firm has a market cap of $50.29 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.20 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $262.68 and a 12 month high of $379.23. The company's 50-day moving average price is $290.46 and its two-hundred day moving average price is $321.05.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm posted $2.78 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's payout ratio is 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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