Groupe la Francaise Reduces Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Groupe la Francaise cut its L3Harris Technologies stake by 40.9% in the second quarter, selling 10,991 shares and retaining 15,893 shares valued at approximately $4.6 million. Institutional investors and hedge funds collectively own 84.76% of the stock.
• Analysts remain moderately bullish, with two Strong Buy, nine Buy and five Hold ratings; however, several firms recently lowered price targets. The consensus target is $360.45, well above L3Harris’s reported opening price of $256.45.
• L3Harris exceeded quarterly expectations with $3.13 EPS and $5.88 billion in revenue, up 8.4% year over year. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.9% annualized yield.

Groupe la Francaise lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 40.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,893 shares of the company's stock after selling 10,991 shares during the quarter. Groupe la Francaise's holdings in L3Harris Technologies were worth $4,618,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in L3Harris Technologies by 27,873.4% during the second quarter. California State Teachers Retirement System now owns 83,761,115 shares of the company's stock worth $24,340,142,000 after acquiring an additional 83,461,684 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of L3Harris Technologies in the second quarter valued at approximately $300,000. Wedmont Private Capital grew its position in shares of L3Harris Technologies by 2.7% in the second quarter. Wedmont Private Capital now owns 1,774 shares of the company's stock valued at $516,000 after purchasing an additional 47 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of L3Harris Technologies by 8.1% during the 2nd quarter. HB Wealth Management LLC now owns 14,729 shares of the company's stock worth $4,280,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Compass Financial Management LLC purchased a new stake in L3Harris Technologies in the 2nd quarter valued at approximately $370,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LHX. Jefferies Financial Group cut L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price target for the company. in a report on Wednesday, August 26th. UBS Group cut their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. BNP Paribas Exane decreased their price target 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. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Finally, Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $360.45.

L3Harris Technologies Stock Performance

Shares of LHX opened at $256.45 on Tuesday. L3Harris Technologies Inc has a twelve month low of $256.05 and a twelve month high of $379.23. The firm has a market capitalization of $47.75 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.64 and a beta of 0.50. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The stock's fifty day simple moving average is $282.12 and its 200 day simple moving average is $314.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued 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 1.9%. L3Harris Technologies's payout ratio is presently 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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