L3Harris Technologies Inc $LHX Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its L3Harris stake by 7.1% in the second quarter, adding 313,431 shares to reach 4.71 million shares valued at approximately $1.37 billion. Institutional investors collectively own 84.76% of the company.
• Analyst sentiment remains moderately positive, with L3Harris holding an average “Moderate Buy” rating and a consensus price target of $360.45, despite recent target-price cuts and downgrades to neutral from some firms.
• L3Harris reported quarterly earnings and revenue above analyst expectations, while shares opened at $263.31 near their one-year low. The company also declared a quarterly dividend of $1.25 per share, equivalent to a 1.9% yield.

Wellington Management Group LLP raised its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,707,086 shares of the company's stock after purchasing an additional 313,431 shares during the quarter. Wellington Management Group LLP owned about 2.53% of L3Harris Technologies worth $1,367,832,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on LHX shares. Jefferies Financial Group cut L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 target price on the stock. in a research report on Wednesday. UBS Group reduced their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Susquehanna decreased their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research 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. Finally, Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $360.45.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $263.31 on Friday. The firm has a fifty day moving average price of $285.55 and a 200-day moving average price of $317.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a market cap of $49.03 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $258.54 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results 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. The company had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. L3Harris Technologies's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm 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 $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's payout ratio is presently 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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