L3Harris Technologies Inc $LHX Position Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,756 shares of the company’s stock after selling 3,360 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in L3Harris Technologies were worth $24,629,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies in the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $25,000. Cedar Mountain Advisors LLC boosted 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 buying an additional 74 shares during the period. Finally, Abound Financial LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at about $29,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LHX. UBS Group dropped their target price on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. BNP Paribas Exane lowered their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $360.45.

L3Harris Technologies Stock Performance

Shares of LHX opened at $263.31 on Friday. The firm has a 50-day moving average price of $285.55 and a 200 day moving average price of $317.80. The firm has a market capitalization of $49.03 billion, a PE ratio of 26.60, 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 52-week low of $258.54 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company earned $2.78 EPS. L3Harris Technologies’s quarterly revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced 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 of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. 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.