Quantitative Investment Management LLC Boosts Stock Position in L3Harris Technologies Inc $LHX

Key Points

• Quantitative Investment Management more than doubled its L3Harris position in the second quarter, increasing holdings by 104.5% to 11,455 shares valued at approximately $3.33 million.
• Institutional ownership remains high at 84.76%, with major investors including BlackRock, Bank of New York Mellon, Artisan Partners, Deutsche Bank and Man Group expanding or initiating positions.
• L3Harris exceeded quarterly earnings and revenue expectations, while maintaining a $1.25 quarterly dividend. Analysts hold a “Moderate Buy” consensus rating with an average price target of $360.45, despite recent price-target reductions.

Quantitative Investment Management LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 104.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,455 shares of the company's stock after purchasing an additional 5,853 shares during the period. Quantitative Investment Management LLC's holdings in L3Harris Technologies were worth $3,328,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth $5,525,806,000. Bank of New York Mellon Corp bought a new position in shares of L3Harris Technologies in the 2nd quarter valued at about $752,983,000. Artisan Partners Limited Partnership lifted its holdings in shares of L3Harris Technologies by 174.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after acquiring an additional 1,207,334 shares during the last quarter. Deutsche Bank AG purchased a new position in L3Harris Technologies in the second quarter worth about $174,006,000. Finally, Man Group plc increased its stake in L3Harris Technologies by 5,286.7% during the second quarter. Man Group plc now owns 563,720 shares of the company's stock worth $163,811,000 after acquiring an additional 553,255 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Up 0.2%

Shares of NYSE LHX opened at $263.31 on Monday. L3Harris Technologies Inc has a 12-month low of $258.54 and a 12-month high of $379.23. The stock's fifty day simple moving average is $285.55 and its two-hundred day simple moving average is $317.57. The stock has a market capitalization of $49.03 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.14 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 issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. The firm had revenue of $5.88 billion during the quarter, compared to analysts' expectations of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. L3Harris Technologies's dividend payout ratio (DPR) is presently 50.51%.

Analyst Ratings Changes

Several research firms have recently issued reports on LHX. BNP Paribas Exane lowered their price objective 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 report on Tuesday, June 23rd. Susquehanna dropped their price objective 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. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and an average target price of $360.45.

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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