OneDigital Investment Advisors LLC Makes New Investment in L3Harris Technologies Inc $LHX

Key Points

• OneDigital Investment Advisors bought 5,175 shares of L3Harris Technologies worth approximately $1.5 million in the second quarter, while institutional investors collectively own 84.76% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $365, well above the stock’s recent price of about $278, despite several firms lowering their targets.
• L3Harris exceeded quarterly earnings and revenue expectations, with EPS of $3.13 and revenue of $5.88 billion, while announcing a quarterly dividend of $1.25 per share, representing a 1.8% yield.

OneDigital Investment Advisors LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,175 shares of the company's stock, valued at approximately $1,504,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cedar Mountain Advisors LLC raised its holdings in 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 purchasing an additional 74 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in L3Harris Technologies in the fourth quarter valued at $25,000. Tower View Wealth Management LLC acquired a new stake in L3Harris Technologies in the first quarter valued at $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $25,000. Finally, Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter worth $25,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on LHX. Susquehanna lowered their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research note on Friday, July 31st. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. UBS Group lowered their price target 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. Finally, Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $365.00.

L3Harris Technologies Trading Down 4.7%

L3Harris Technologies stock opened at $278.05 on Tuesday. The stock has a 50-day moving average price of $292.38 and a 200 day moving average price of $322.68. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The stock has a market cap of $51.78 billion, a PE ratio of 28.09, a P/E/G ratio of 1.10 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the firm earned $2.78 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio is presently 50.51%.

Key L3Harris Technologies News

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: L3Harris appointed insider Sam Mehta as president and chief executive officer effective immediately. Mehta’s familiarity with the business could help provide continuity and limit disruption while the company manages the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: A new Rhode Island facility is expanding L3Harris’ undersea-defense capabilities, including advanced training systems for U.S. and allied fleets. The investment may support long-term growth in an area benefiting from increased defense demand. Can L3Harris' New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: The leadership transition is effective immediately, and additional details about the conduct violation were not disclosed. Investors will likely watch for information on Mehta’s strategic priorities, the board’s governance process and any effect on customer or government relationships. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct
• Negative Sentiment: Kubasik’s departure is particularly sensitive because he previously left Lockheed Martin after acknowledging an improper relationship with a subordinate. The repeat conduct-related controversy may heighten reputational and governance concerns surrounding L3Harris. L3Harris ousts CEO Christopher Kubasik after probe finds he violated code of conduct

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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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.

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