Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 495,886 L3Harris Technologies Inc $LHX

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel reports. The firm purchased 495,886 shares of the company’s stock, valued at approximately $144,100,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the last quarter. Jump Financial LLC lifted its stake in L3Harris Technologies by 14.9% during the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after buying an additional 2,130 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $856,000. Finally, CIBC Asset Management Inc boosted its holdings in L3Harris Technologies by 116.2% during the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after acquiring an additional 33,321 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.7%

Shares of NYSE:LHX opened at $280.26 on Wednesday. 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 stock has a market cap of $52.19 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.10 and a beta of 0.51. The firm has a fifty day moving average price of $291.83 and a 200 day moving average price of $322.11.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company earned $2.78 earnings per share. The business’s 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. Sell-side analysts predict that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio (DPR) is 50.51%.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Experienced successor appointed immediately: L3Harris named Sam Mehta president and CEO effective immediately. Mehta is an aerospace and defense executive with company experience, which may reduce uncertainty around operations and customer relationships during the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: Defense technology demonstrated: At the Army’s Project Convergence-Capstone 6 exercise, L3Harris showcased interoperable communications, Link 16 integration, sensors and effectors designed for coordinated operations in contested environments. The event supports the company’s positioning in multi-domain defense systems and potential future government contracts. L3Harris Demonstrates Multi-Domain Supremacy at Annual Project Convergence Exercise
• Positive Sentiment: Undersea-defense expansion continues: A new Rhode Island facility is intended to support advanced training systems for U.S. and allied fleets, potentially strengthening L3Harris’s undersea-defense growth prospects. Can L3Harris’ New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: Operations were not cited as the issue: The board said Kubasik’s departure followed an investigation into a conduct violation unrelated to the company’s financial reporting. Investors will likely focus on whether the leadership change affects execution, government contracts or strategic priorities.
• Negative Sentiment: CEO’s abrupt dismissal weighs on confidence: Kubasik was removed after the board determined he violated L3Harris’s code of conduct. The sudden change creates governance and continuity concerns, while reports that he previously left Lockheed Martin over an improper relationship may intensify reputational concerns. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct

Wall Street Analyst Weigh In

Several research analysts have recently commented on LHX shares. 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. BNP Paribas Exane dropped 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 note on Thursday, July 30th. Susquehanna decreased their target price on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday. Finally, Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.00.

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.