L3Harris Technologies Inc $LHX Stake Trimmed by Saranac Partners Ltd

Key Points

• Saranac Partners cut its L3Harris stake by 93.2% in the second quarter, selling 20,414 shares and retaining 1,478 shares valued at approximately $429,000. Overall, institutional investors and hedge funds own 84.76% of the company.
• L3Harris reported quarterly EPS of $3.13, beating estimates of $2.80, while revenue rose 8.4% year over year to $5.88 billion. The company reaffirmed fiscal 2026 EPS guidance of $11.80–$12.00.
• The stock opened at $267.03, near its 52-week low, while analysts maintain a “Moderate Buy” consensus with an average price target of $365. L3Harris also declared a quarterly dividend of $1.25 per share, implying a 1.9% yield.

Saranac Partners Ltd lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 93.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,478 shares of the company's stock after selling 20,414 shares during the period. Saranac Partners Ltd's holdings in L3Harris Technologies were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC raised its stake in L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock valued at $751,000 after purchasing an additional 388 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock valued at $4,285,000 after purchasing an additional 2,130 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of L3Harris Technologies in the second quarter valued at $856,000. Finally, CIBC Asset Management Inc boosted its position in shares of L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after buying an additional 33,321 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Up 0.1%

Shares of L3Harris Technologies stock opened at $267.03 on Monday. The firm has a market cap of $49.72 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 1.16 and a beta of 0.51. The stock has a 50-day simple moving average of $289.65 and a 200-day simple moving average of $320.54. L3Harris Technologies Inc has a 52-week low of $262.68 and a 52-week high of $379.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior 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, equities research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share 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 dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. L3Harris Technologies's dividend payout ratio is 50.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Sanford C. Bernstein lowered their price target on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. UBS Group decreased their price objective on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. BNP Paribas Exane dropped their target price on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $365.00.

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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source