Varma Mutual Pension Insurance Co Invests $14.21 Million in L3Harris Technologies Inc $LHX

Varma Mutual Pension Insurance Co purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,900 shares of the company’s stock, valued at approximately $14,210,000.

Several other institutional investors have also added to or reduced their stakes in LHX. Cedar Mountain Advisors LLC raised its position 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 valued at $28,000 after buying an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in L3Harris Technologies in the fourth quarter worth about $25,000. Tower View Wealth Management LLC purchased a new position in L3Harris Technologies in the first quarter worth about $29,000. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $25,000. Finally, Motiv8 Investments LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Susquehanna lowered their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. BNP Paribas Exane cut their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. UBS Group lowered their price target on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

L3Harris Technologies Stock Up 0.1%

Shares of NYSE:LHX opened at $267.03 on Monday. L3Harris Technologies Inc has a 1 year low of $262.68 and a 1 year high of $379.23. The business has a 50 day simple moving average of $289.65 and a two-hundred day simple moving average of $320.54. The firm has a market capitalization of $49.72 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping 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 firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business posted $2.78 earnings per share. The company’s revenue for the quarter 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, equities analysts predict 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. Shareholders of record on Friday, September 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend 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.