Gamco Investors INC. ET AL Buys 7,983 Shares of L3Harris Technologies Inc $LHX

Key Points

• Gamco Investors increased its L3Harris Technologies stake by 14.5% in the second quarter, purchasing 7,983 shares and bringing its holdings to 63,043 shares valued at approximately $18.32 million. Institutional investors collectively own 84.76% of the company.
• L3Harris reported quarterly EPS of $3.13, exceeding estimates of $2.80, while revenue rose 8.4% year over year to $5.88 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $365.
• LHX shares opened at $267.03, near their 52-week low of $262.68 and well below the 52-week high of $379.23. The company also announced a quarterly dividend of $1.25 per share, equivalent to a 1.9% annual yield.

Gamco Investors INC. ET AL increased its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,043 shares of the company's stock after buying an additional 7,983 shares during the period. Gamco Investors INC. ET AL's holdings in L3Harris Technologies were worth $18,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac purchased a new position in L3Harris Technologies during the fourth quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of L3Harris Technologies in the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at $25,000. Cedar Mountain Advisors LLC increased its holdings 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 in the last quarter. Finally, Abound Financial LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $29,000. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LHX. BNP Paribas Exane cut 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 report on Thursday, July 30th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Susquehanna dropped their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a report on Tuesday. 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 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $267.03 on Friday. The firm has a market capitalization of $49.72 billion, a PE ratio of 26.97, a P/E/G ratio of 1.16 and a beta of 0.51. The company has a 50 day moving average price of $289.65 and a 200-day moving average price of $320.67. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. 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 (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion during 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%.L3Harris Technologies's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies's dividend payout ratio is currently 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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