Korea Investment CORP Increases Stock Position in L3Harris Technologies Inc $LHX

Korea Investment CORP increased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 85.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,159 shares of the company's stock after acquiring an additional 68,473 shares during the quarter. Korea Investment CORP owned approximately 0.08% of L3Harris Technologies worth $43,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. BlackRock Inc. purchased a new position in shares of L3Harris Technologies during the second quarter worth about $5,525,806,000. Capital World Investors grew its holdings in shares of L3Harris Technologies by 2.9% during the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after buying an additional 329,910 shares during the last quarter. State Street Corp increased its position in L3Harris Technologies by 1.6% in 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 period. Finally, Geode Capital Management LLC increased its position in L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after acquiring an additional 106,430 shares during the period. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LHX. Sanford C. Bernstein decreased their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Susquehanna cut their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research note on Friday, July 31st. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Finally, BNP Paribas Exane lowered 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. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $365.00.

L3Harris Technologies Trading Down 1.3%

NYSE LHX opened at $267.03 on Friday. 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 stock has a market capitalization of $49.72 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.16 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 firm has a 50-day moving average price of $289.65 and a 200 day moving average price of $320.67.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the company earned $2.78 EPS. The firm'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. Equities research analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 dividend on an annualized basis and a dividend yield of 1.9%. L3Harris Technologies's payout ratio is 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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