Deutsche Bank AG Takes Position in L3Harris Technologies Inc $LHX

Deutsche Bank AG purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 598,801 shares of the company's stock, valued at approximately $174,006,000. Deutsche Bank AG owned approximately 0.32% of L3Harris Technologies at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in L3Harris Technologies during the 2nd quarter valued at $752,983,000. Artisan Partners Limited Partnership increased its position in shares of L3Harris Technologies by 174.2% in 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 during the last quarter. Two Sigma Investments LP increased its position in shares of L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock worth $187,609,000 after purchasing an additional 521,312 shares during the last quarter. Boston Partners raised its stake in shares of L3Harris Technologies by 27.6% in the 4th quarter. Boston Partners now owns 2,401,871 shares of the company's stock valued at $709,396,000 after purchasing an additional 519,226 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $144,100,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 0.7%

NYSE LHX opened at $280.26 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23. The company has a 50-day simple moving average of $291.83 and a 200-day simple moving average of $322.11. The firm has a market capitalization of $52.19 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results 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. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. During the same quarter last year, the company posted $2.78 earnings per share. L3Harris Technologies'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. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders 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 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio is presently 50.51%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BNP Paribas Exane decreased their price target on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Sanford C. Bernstein cut their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. UBS Group decreased their target price on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Finally, Susquehanna lowered their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $365.00.

Trending Headlines about L3Harris Technologies

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

• Positive Sentiment: Experienced successor appointed immediately: L3Harris named Sam Mehta president and CEO effective immediately. Mehta is an aerospace and defense executive with company experience, which may reduce uncertainty around operations and customer relationships during the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: Defense technology demonstrated: At the Army’s Project Convergence-Capstone 6 exercise, L3Harris showcased interoperable communications, Link 16 integration, sensors and effectors designed for coordinated operations in contested environments. The event supports the company’s positioning in multi-domain defense systems and potential future government contracts. L3Harris Demonstrates Multi-Domain Supremacy at Annual Project Convergence Exercise
• Positive Sentiment: Undersea-defense expansion continues: A new Rhode Island facility is intended to support advanced training systems for U.S. and allied fleets, potentially strengthening L3Harris’s undersea-defense growth prospects. Can L3Harris' New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: Operations were not cited as the issue: The board said Kubasik’s departure followed an investigation into a conduct violation unrelated to the company’s financial reporting. Investors will likely focus on whether the leadership change affects execution, government contracts or strategic priorities.
• Negative Sentiment: CEO’s abrupt dismissal weighs on confidence: Kubasik was removed after the board determined he violated L3Harris’s code of conduct. The sudden change creates governance and continuity concerns, while reports that he previously left Lockheed Martin over an improper relationship may intensify reputational concerns. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct

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.

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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