Hsbc Holdings PLC Acquires 51,642 Shares of L3Harris Technologies Inc $LHX

Key Points

• HSBC increased its L3Harris Technologies stake by 15.7% in the second quarter, acquiring 51,642 additional shares for a total holding of 380,624 shares valued at approximately $110.5 million. Institutional investors collectively own 84.76% of the company.
• Analyst sentiment remains cautiously positive, with L3Harris holding a “Moderate Buy” consensus rating and an average price target of $360.45, despite several recent target reductions and a downgrade to “Hold” by Jefferies.
• L3Harris reported quarterly EPS of $3.13, exceeding estimates by $0.33, 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 1.9% annual yield.

Hsbc Holdings PLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,624 shares of the company's stock after acquiring an additional 51,642 shares during the quarter. Hsbc Holdings PLC owned 0.20% of L3Harris Technologies worth $110,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fideuram Asset Management Ireland dac bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new position in L3Harris Technologies in the 4th quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC grew its stake 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 worth $28,000 after buying an additional 74 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the third quarter worth $29,000. Institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LHX. BNP Paribas Exane dropped their price target 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. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. UBS Group lowered 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. Susquehanna cut their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Finally, Jefferies Financial Group lowered L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price target on the stock. in a research note on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $360.45.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $256.45 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. L3Harris Technologies Inc has a twelve month low of $256.05 and a twelve month high of $379.23. The stock has a market cap of $47.75 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 1.64 and a beta of 0.50. The company's fifty day moving average is $282.78 and its 200 day moving average is $314.71.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) 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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