Diamond Hill Capital Management LLC Investment Advisor Makes New $133.41 Million Investment in L3Harris Technologies Inc $LHX

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 459,115 shares of the company’s stock, valued at approximately $133,414,000.

A number of other hedge funds have also modified their holdings of LHX. Bank of New York Mellon Corp purchased a new stake in shares of L3Harris Technologies during the second quarter worth $752,983,000. Artisan Partners Limited Partnership grew its stake in L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after purchasing an additional 1,207,334 shares in the last quarter. Two Sigma Investments LP increased its position in L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after purchasing an additional 521,312 shares during the last quarter. Boston Partners increased its position in L3Harris Technologies by 27.6% in the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of L3Harris Technologies by 3,127.8% during the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

LHX opened at $291.62 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The company has a market cap of $54.30 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The stock has a 50-day moving average of $292.85 and a 200-day moving average of $323.26. L3Harris Technologies Inc has a 52-week low of $262.68 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued 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. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business earned $2.78 EPS. The firm’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. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio (DPR) is 50.51%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Susquehanna cut their price objective 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. UBS Group reduced their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. BNP Paribas Exane decreased their target price 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. Finally, Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $365.00.

About L3Harris Technologies

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.