L3Harris Technologies Inc $LHX Holdings Boosted by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital increased its L3Harris stake by 560.9% in the third quarter, to 133,279 shares valued at about $31.6 million. Institutional investors collectively own 84.76% of the company.
• Analysts’ consensus rating is “Moderate Buy,” with a $340.93 average price target; views range from Hold to Buy.
• L3Harris beat quarterly earnings and revenue estimates, reporting EPS of $3.28 and revenue of $6.07 billion. It also announced a $1.25 quarterly dividend, equivalent to a 1.8% annualized yield.

Eurizon Capital SGR S.p.A. lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 560.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,279 shares of the company's stock after buying an additional 113,113 shares during the quarter. Eurizon Capital SGR S.p.A. owned approximately 0.07% of L3Harris Technologies worth $31,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. R Squared Ltd boosted its stake in L3Harris Technologies by 18.5% during the 3rd quarter. R Squared Ltd now owns 5,346 shares of the company's stock valued at $1,266,000 after acquiring an additional 833 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $51,000. Bourne Lent Asset Management Inc. increased its position in shares of L3Harris Technologies by 3.1% in the 3rd quarter. Bourne Lent Asset Management Inc. now owns 10,090 shares of the company's stock worth $2,389,000 after purchasing an additional 300 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of L3Harris Technologies by 14.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 11,512 shares of the company's stock worth $2,726,000 after purchasing an additional 1,428 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp raised its stake in shares of L3Harris Technologies by 1.1% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 40,997 shares of the company's stock valued at $9,707,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LHX shares. Deutsche Bank reaffirmed a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. UBS Group upped their price objective on L3Harris Technologies from $264.00 to $293.00 and gave the company a "neutral" rating in a research note on Friday, October 30th. Susquehanna reduced their target price on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a report on Friday, July 31st. TD Cowen decreased their target price on L3Harris Technologies from $370.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, October 9th. Finally, Argus downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.93.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $272.42 on Friday. The company has a market cap of $50.72 billion, a P/E ratio of 25.41, a PEG ratio of 1.66 and a beta of 0.47. The business has a 50 day moving average of $251.22 and a two-hundred day moving average of $301.15. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.33. The business had revenue of $6.07 billion for the quarter, compared to analysts' expectations of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 12.10 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 annualized dividend and a yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is currently 46.64%.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.

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