State Street Corp Has $2.64 Billion Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• State Street increased its L3Harris Technologies stake by 2.9% in the second quarter to 9.1 million shares, valued at approximately $2.64 billion. Institutional investors collectively own 84.76% of the company.
• L3Harris shares opened at $239.75, near their 52-week low and down sharply from the $379.23 high. Analysts maintain a “Moderate Buy” consensus with an average price target of $360.83, though several firms recently downgraded the stock to “Hold.”
• The company exceeded quarterly earnings and revenue expectations, reporting $3.13 in EPS on $5.88 billion in revenue, while revenue grew 8.4% year over year. L3Harris also pays a quarterly dividend of $1.25 per share, representing a 2.1% yield.

State Street Corp boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,097,353 shares of the company's stock after buying an additional 252,662 shares during the period. State Street Corp owned approximately 4.89% of L3Harris Technologies worth $2,643,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Altus USA Inc. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $88,000. Talon Private Wealth LLC raised its position in L3Harris Technologies by 9.2% during the second quarter. Talon Private Wealth LLC now owns 9,700 shares of the company's stock valued at $2,819,000 after acquiring an additional 821 shares in the last quarter. Core Capital Management & Research inc. acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $2,784,000. Sequoia Financial Advisors LLC lifted its stake in L3Harris Technologies by 10.7% in the second quarter. Sequoia Financial Advisors LLC now owns 66,606 shares of the company's stock valued at $19,355,000 after acquiring an additional 6,414 shares during the last quarter. Finally, MCF Advisors LLC grew its position in L3Harris Technologies by 43.4% in the second quarter. MCF Advisors LLC now owns 486 shares of the company's stock worth $141,000 after acquiring an additional 147 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of several recent analyst reports. UBS Group decreased their price target on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Guggenheim started coverage on L3Harris Technologies in a report on Monday, September 14th. They set a "buy" rating and a $365.00 price target on the stock. Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 10th. Finally, Melius Research cut shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $360.83.

L3Harris Technologies Stock Down 2.9%

Shares of NYSE LHX opened at $239.75 on Wednesday. The stock has a market cap of $44.64 billion, a PE ratio of 24.22, a PEG ratio of 1.58 and a beta of 0.50. The business has a fifty day moving average of $272.13 and a two-hundred day moving average of $305.50. L3Harris Technologies Inc has a 52-week low of $239.51 and a 52-week high of $379.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted 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 quarter in the previous year, the company posted $2.78 earnings per share. L3Harris Technologies'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. As a group, equities research analysts expect 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 was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued 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 currently 50.51%.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.

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