L3Harris Technologies Inc $LHX Shares Sold by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management cut its L3Harris stake by 75.2% in the second quarter, selling 67,601 shares and retaining 22,267 shares worth approximately $6.47 million. Institutional investors and hedge funds collectively own 84.76% of the stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $365, although several firms recently lowered their targets. L3Harris reported quarterly EPS of $3.13, exceeding estimates, while revenue rose 8.4% year over year to $5.88 billion.
• L3Harris announced a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.9% yield. Shares opened at $262.78, near their 52-week low of $261.55.

Osterweis Capital Management Inc. reduced its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 75.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,267 shares of the company's stock after selling 67,601 shares during the quarter. Osterweis Capital Management Inc.'s holdings in L3Harris Technologies were worth $6,471,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LHX. Jones Financial Companies Lllp grew its position in L3Harris Technologies by 5.2% during the 2nd quarter. Jones Financial Companies Lllp now owns 139,232 shares of the company's stock worth $40,551,000 after purchasing an additional 6,917 shares during the last quarter. Park Place Capital Corp raised its holdings in shares of L3Harris Technologies by 4,215.4% in the second quarter. Park Place Capital Corp now owns 3,366 shares of the company's stock worth $978,000 after buying an additional 3,288 shares during the last quarter. Fiduciary Financial Advisors purchased a new position in shares of L3Harris Technologies in the second quarter worth $38,000. Whalen Wealth Management Inc. lifted its stake in shares of L3Harris Technologies by 49.7% during the second quarter. Whalen Wealth Management Inc. now owns 2,354 shares of the company's stock worth $684,000 after buying an additional 781 shares during the period. Finally, Ally Financial Inc. acquired a new stake in shares of L3Harris Technologies during the second quarter worth $1,453,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on LHX. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. UBS Group reduced their price objective on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. 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. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Finally, BNP Paribas Exane cut their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Two investment 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $365.00.

L3Harris Technologies Price Performance

NYSE:LHX opened at $262.78 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a 52 week low of $261.55 and a 52 week high of $379.23. The stock's 50-day moving average price is $288.82 and its 200-day moving average price is $319.91. The stock has a market capitalization of $48.93 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51.

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 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 return on equity of 10.96% and a net margin of 8.17%.L3Harris Technologies's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, equities analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $1.25 per share. 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 dividend payout ratio (DPR) is 50.51%.

About L3Harris Technologies

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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