Old West Investment Management LLC Buys New Stake in L3Harris Technologies Inc $LHX

Key Points

• Old West Investment Management purchased 8,415 shares of L3Harris Technologies in the second quarter, valued at approximately $2.45 million. Institutional investors and hedge funds collectively own 84.76% of the company.
• Analysts maintain a generally positive outlook, with L3Harris receiving a “Moderate Buy” consensus rating and an average price target of $365, despite several recent target reductions.
• L3Harris exceeded quarterly expectations with $3.13 in earnings per share and $5.88 billion in revenue, while revenue increased 8.4% year over year. The company also declared a quarterly dividend of $1.25 per share, representing a 1.7% yield.

Old West Investment Management LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,415 shares of the company's stock, valued at approximately $2,445,000.

Several other large investors also recently bought and sold shares of the stock. 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 shares of L3Harris Technologies in the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $25,000. Cedar Mountain Advisors LLC grew its position in shares of L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after acquiring an additional 74 shares during the last quarter. Finally, Abound Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LHX. Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. BNP Paribas Exane reduced their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Susquehanna decreased their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research note on Friday, July 31st. Finally, UBS Group lowered their price target on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Two investment 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $365.00.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $291.62 on Monday. 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 business has a 50 day simple moving average of $292.85 and a 200-day simple moving average of $323.26. L3Harris Technologies Inc has a 12 month low of $262.68 and a 12 month high of $379.23. The stock has a market capitalization of $54.30 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $5.88 billion for 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%. L3Harris Technologies's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders 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 dividend yield of 1.7%. L3Harris Technologies's payout ratio is presently 50.51%.

L3Harris Technologies 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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