L3Harris Technologies Inc $LHX Shares Acquired by Hsbc Holdings PLC

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 13F filing with the Securities and Exchange Commission. The fund owned 380,624 shares of the company's stock after purchasing an additional 51,642 shares during the period. Hsbc Holdings PLC owned approximately 0.20% of L3Harris Technologies worth $110,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allstate Corp grew its holdings in shares of L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after buying an additional 7,219 shares during the last quarter. Swiss National Bank raised its stake in L3Harris Technologies by 7.1% in the 1st quarter. Swiss National Bank now owns 549,029 shares of the company's stock worth $189,497,000 after acquiring an additional 36,320 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company's stock worth $64,920,000 after acquiring an additional 41,414 shares during the period. Atria Investments Inc grew its stake in L3Harris Technologies by 77.9% during the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company's stock valued at $4,345,000 after purchasing an additional 6,482 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of L3Harris Technologies by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company's stock valued at $531,416,000 after purchasing an additional 110,423 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Susquehanna decreased their target price on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a report on Friday, July 31st. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Finally, BNP Paribas Exane reduced their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $262.20 on Wednesday. The business's 50 day moving average is $287.85 and its two-hundred day moving average is $319.37. L3Harris Technologies Inc has a 12-month low of $260.95 and a 12-month high of $379.23. The company has a market capitalization of $48.82 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.14 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm earned $2.78 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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