L3Harris Technologies Inc $LHX Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 1,128,010 shares of the company’s stock after selling 25,316 shares during the period. Legal & General Group Plc’s holdings in L3Harris Technologies were worth $327,788,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

LHX has been the topic of a number of analyst reports. BNP Paribas Exane decreased their price objective on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Susquehanna cut 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 note on Friday, July 31st. 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. Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

L3Harris Technologies Price Performance

LHX stock opened at $262.20 on Wednesday. The stock has a 50-day moving average price of $287.85 and a two-hundred day moving average price of $319.37. L3Harris Technologies Inc has a 12-month low of $260.95 and a 12-month high of $379.23. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The company has a market cap of $48.82 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion for 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%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend 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.