Plato Investment Management Ltd Buys New Stake in L3Harris Technologies Inc $LHX

Key Points

• Plato Investment Management acquired 7,585 L3Harris shares worth approximately $2.19 million in the second quarter. Institutional investors collectively own 84.76% of the company.
• L3Harris reported quarterly EPS of $3.13, exceeding estimates of $2.80, while revenue rose 8.4% year over year to $5.88 billion. The company maintained FY 2026 EPS guidance of $11.80–$12.00 and declared a quarterly dividend of $1.25.
• The stock opened at $278.05, down 4.7%, and analysts’ consensus rating remains “Moderate Buy” with a $365 average price target. Investors are also assessing the immediate CEO transition to Sam Mehta after Christopher Kubasik’s departure over a conduct violation.

Plato Investment Management Ltd 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 7,585 shares of the company's stock, valued at approximately $2,191,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC grew its holdings 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 purchasing an additional 74 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in L3Harris Technologies during the 4th quarter worth approximately $25,000. Tower View Wealth Management LLC purchased a new position in L3Harris Technologies during the 1st quarter worth approximately $29,000. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies during the fourth quarter worth approximately $25,000. Finally, Motiv8 Investments LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $25,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 4.7%

Shares of LHX opened at $278.05 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average is $292.38 and its two-hundred day moving average is $322.68. L3Harris Technologies Inc has a twelve month low of $262.68 and a twelve month high of $379.23. The firm has a market capitalization of $51.78 billion, a P/E ratio of 28.09, a PEG ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $5.81 billion. During the same period last year, the company posted $2.78 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is presently 50.51%.

Analysts Set New Price Targets

Several research analysts have issued reports on LHX shares. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein dropped their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. BNP Paribas Exane cut their target price on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Finally, UBS Group cut 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $365.00.

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

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.

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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