Focus Partners Advisor Solutions LLC Purchases New Shares in L3Harris Technologies Inc $LHX

Key Points

• Focus Partners Advisor Solutions initiated a position in L3Harris Technologies, purchasing 3,941 shares valued at approximately $1.15 million. Institutional investors collectively own 84.76% of the company.
• Analysts maintain a generally positive outlook, with L3Harris receiving a consensus “Moderate Buy” rating and an average price target of $365, despite several firms recently lowering their targets.
• L3Harris exceeded quarterly earnings and revenue expectations, reporting $3.13 in EPS and $5.88 billion in revenue, while announcing a quarterly dividend of $1.25 per share, equivalent to a 1.7% yield.

Focus Partners Advisor Solutions LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,941 shares of the company's stock, valued at approximately $1,145,000.

A number of other institutional investors have also added to or reduced their stakes in LHX. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC increased its position in shares of 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 acquiring an additional 74 shares during the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $29,000. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on LHX. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research 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. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Susquehanna cut their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a report on Friday, July 31st. Finally, Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. 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 company's stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $365.00.

L3Harris Technologies Stock Down 0.1%

Shares of NYSE LHX opened at $291.62 on Monday. 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 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. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The business has a 50-day simple moving average of $292.85 and a two-hundred day simple moving average of $323.26.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share 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 firm had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. During the same period in the prior year, the business 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. Research analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is currently 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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