Manning & Napier Advisors LLC cut its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 97.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 576 shares of the company's stock after selling 20,393 shares during the quarter. Manning & Napier Advisors LLC's holdings in L3Harris Technologies were worth $167,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $25,000. Motiv8 Investments LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth approximately $25,000. Cedar Mountain Advisors LLC grew its stake in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $29,000. 84.76% of the stock is owned by hedge funds and other institutional investors.
L3Harris Technologies Trading Down 0.2%
Shares of LHX opened at $262.20 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average is $287.85 and its two-hundred day moving average is $319.37. L3Harris Technologies Inc has a twelve month low of $260.95 and a twelve month high of $379.23. The firm has a market capitalization of $48.82 billion, a P/E ratio of 26.49, a PEG ratio of 1.14 and a beta of 0.51.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion during 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%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.
L3Harris Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. L3Harris Technologies's dividend payout ratio is 50.51%.
Wall Street Analyst Weigh In
LHX has been the topic of a number of analyst reports. UBS Group lowered their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. 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. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Finally, Susquehanna dropped their target price on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $365.00.
Get Our Latest Report on L3Harris Technologies
L3Harris Technologies Profile
(
Free Report)
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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