The Manufacturers Life Insurance Company lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,115 shares of the company's stock after selling 45,720 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.24% of L3Harris Technologies worth $127,893,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies in the 4th quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in L3Harris Technologies in the fourth quarter worth approximately $25,000. Motiv8 Investments LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC grew its stake in L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after acquiring an additional 74 shares during the period. Finally, Abound Financial LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $29,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.
L3Harris Technologies Stock Down 0.2%
LHX stock opened at $262.20 on Wednesday. The firm has a market capitalization of $48.82 billion, a PE ratio of 26.49, a P/E/G ratio of 1.14 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a twelve month low of $260.95 and a twelve month high of $379.23. The stock's 50 day moving average is $287.85 and its 200-day moving average is $319.37.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.L3Harris Technologies's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal 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 paid a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. L3Harris Technologies's dividend payout ratio is presently 50.51%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on LHX shares. BNP Paribas Exane lowered their target price on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. 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. UBS Group reduced their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Finally, Sanford C. Bernstein decreased their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $365.00.
Get Our Latest Analysis on LHX
L3Harris Technologies Profile
(
Free Report)
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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