Perigon Wealth Management LLC Acquires Shares of 9,180 L3Harris Technologies Inc $LHX

Perigon Wealth Management LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel reports. The firm acquired 9,180 shares of the company’s stock, valued at approximately $2,668,000.

Several other large investors have also recently made changes to their positions in LHX. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies during the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in L3Harris Technologies in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $25,000. Cedar Mountain Advisors LLC raised its holdings in shares of L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. Finally, Abound Financial LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $29,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on LHX shares. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein lowered their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. BNP Paribas Exane dropped their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. UBS Group reduced their target price 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. Finally, Susquehanna decreased their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

L3Harris Technologies News Summary

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 Stock Down 4.7%

Shares of LHX opened at $278.05 on Tuesday. The company has a market cap of $51.78 billion, a PE ratio of 28.09, a P/E/G ratio of 1.10 and a beta of 0.51. The business has a fifty day moving average of $292.38 and a 200 day moving average of $322.68. L3Harris Technologies Inc has a 52-week low of $262.68 and a 52-week high of $379.23. 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 (NYSE:LHX) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. L3Harris Technologies’s payout ratio is presently 50.51%.

L3Harris Technologies 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.