Empowered Funds LLC Acquires 3,491 Shares of L3Harris Technologies Inc $LHX

Key Points

• Empowered Funds LLC increased its L3Harris Technologies stake by 17% in the first quarter, purchasing 3,491 shares and bringing its holdings to 23,981 shares valued at approximately $8.28 million. Institutional investors collectively own 84.76% of the company.
• Analysts maintain a generally positive outlook, with L3Harris holding a consensus “Moderate Buy” rating and an average price target of $365, although several firms recently lowered their targets.
• L3Harris reported quarterly EPS of $3.13, exceeding estimates, while revenue rose 8.4% year over year to $5.88 billion. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.7% annualized yield.

Empowered Funds LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,981 shares of the company's stock after buying an additional 3,491 shares during the period. Empowered Funds LLC's holdings in L3Harris Technologies were worth $8,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies in the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $25,000. Motiv8 Investments LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth $25,000. Cedar Mountain Advisors LLC increased its position in shares of L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after purchasing an additional 74 shares during the period. Finally, Abound Financial LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at about $29,000. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Susquehanna reduced their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. Finally, BNP Paribas Exane decreased their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $365.00.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $291.62 on Friday. The business has a fifty day simple moving average of $292.85 and a 200 day simple moving average of $323.48. The company has a market cap of $54.30 billion, a P/E ratio of 29.46, a P/E/G ratio of 1.10 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a twelve month low of $262.68 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. 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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