L3Harris Technologies Inc $LHX Stock: Community Trust & Investment Co. Grows Position

Key Points

• Community Trust & Investment Co. increased its L3Harris stake by 8.2% in the third quarter, bringing its holdings to 63,777 shares valued at approximately $15.1 million. Institutional investors and hedge funds collectively own 84.76% of the company.
• Analyst sentiment remains cautiously positive, with L3Harris carrying a consensus “Moderate Buy” rating and an average price target of $341.71, despite several recent downgrades to “Hold.”
• L3Harris exceeded quarterly earnings and revenue expectations, reporting $3.13 in EPS and $5.88 billion in revenue, while paying a quarterly dividend of $1.25 per share, equivalent to a 2.1% yield.

Community Trust & Investment Co. grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,777 shares of the company's stock after purchasing an additional 4,828 shares during the quarter. Community Trust & Investment Co.'s holdings in L3Harris Technologies were worth $15,101,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $5,525,806,000. Bank of New York Mellon Corp acquired a new position in shares of L3Harris Technologies during the second quarter worth about $752,983,000. Deutsche Bank AG acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $174,006,000. Man Group plc increased its stake in L3Harris Technologies by 5,286.7% in the second quarter. Man Group plc now owns 563,720 shares of the company's stock valued at $163,811,000 after purchasing an additional 553,255 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of L3Harris Technologies during the second quarter worth about $144,100,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LHX. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. Melius Research cut L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, September 8th. BNP Paribas Exane decreased their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies from $346.00 to $318.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Argus cut shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $341.71.

L3Harris Technologies Trading Up 1.4%

NYSE LHX opened at $240.94 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The company has a 50-day simple moving average of $255.02 and a 200-day simple moving average of $290.94. The firm has a market capitalization of $44.87 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.52 and a beta of 0.50. L3Harris Technologies Inc has a one year low of $232.34 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping the consensus estimate of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.89 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. L3Harris Technologies's payout ratio is presently 50.51%.

About L3Harris Technologies

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.

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