Flputnam Investment Management Co. Takes Position in L3Harris Technologies Inc $LHX

Key Points

• Flputnam Investment Management initiated a position in L3Harris Technologies, buying 10,362 shares valued at approximately $3.0 million. Institutional investors collectively own 84.76% of the company.
• L3Harris reported quarterly EPS of $3.13, beating estimates of $2.80, while revenue rose 8.4% year over year to $5.88 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $365.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.7% yield.

Flputnam Investment Management Co. bought a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,362 shares of the company's stock, valued at approximately $3,011,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after buying an additional 190,955 shares in the last quarter. Capital World Investors increased its stake in L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after acquiring an additional 329,910 shares during the last quarter. State Street Corp boosted its position in shares of L3Harris Technologies by 1.6% during the 4th quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after purchasing an additional 106,430 shares in the last quarter. Finally, Morgan Stanley increased its position in L3Harris Technologies by 3.9% in the fourth quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock worth $974,072,000 after purchasing an additional 124,797 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LHX. 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. Sanford C. Bernstein reduced 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. Susquehanna decreased their price objective on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. BNP Paribas Exane lowered their price objective 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. Finally, UBS Group dropped their target price on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $365.00.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $291.62 on Monday. The firm has a market cap of $54.30 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The firm's 50 day simple moving average is $292.85 and its 200-day simple moving average is $323.26. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23. 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 (NYSE:LHX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping 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 business had revenue of $5.88 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same period in the prior year, the business earned $2.78 EPS. The business's revenue for the quarter 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. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 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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