Wealthfront Advisers LLC Invests $3.86 Million in L3Harris Technologies Inc $LHX

Key Points

• Wealthfront Advisers acquired 13,284 L3Harris shares worth approximately $3.86 million during the second quarter, while institutional investors collectively own 84.76% of the stock.
• Analysts maintain a generally positive outlook, with L3Harris holding a “Moderate Buy” consensus rating and a $365 average price target, although several firms recently lowered their targets.
• L3Harris beat quarterly expectations with $3.13 adjusted EPS and $5.88 billion in revenue, up 8.4% year over year. The company also declared a $1.25 quarterly dividend, equivalent to a 1.9% yield.

Wealthfront Advisers LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,284 shares of the company's stock, valued at approximately $3,860,000.

A number of other hedge funds also recently bought and sold shares of LHX. Cedar Mountain Advisors LLC increased its holdings in shares of L3Harris Technologies by 1,233.3% in the 1st 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. University of Texas Texas AM Investment Management Co. bought a new position in L3Harris Technologies in the fourth quarter worth about $25,000. Tower View Wealth Management LLC bought a new position in L3Harris Technologies in the first quarter worth about $29,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $25,000. Finally, Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LHX shares. Susquehanna decreased their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research report on Friday, July 31st. BNP Paribas Exane decreased their price objective on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Finally, UBS Group cut their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Two 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $270.08 on Friday. The business has a fifty day moving average of $290.46 and a 200 day moving average of $321.05. L3Harris Technologies Inc has a 1 year low of $262.68 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the business earned $2.78 EPS. The company'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, research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio is 50.51%.

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.

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