Gabelli Funds LLC Has $39.84 Million Holdings in L3Harris Technologies Inc $LHX

Gabelli Funds LLC boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 43.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 137,101 shares of the company’s stock after purchasing an additional 41,411 shares during the period. Gabelli Funds LLC’s holdings in L3Harris Technologies were worth $39,840,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after purchasing an additional 190,955 shares during the period. BlackRock Inc. acquired a new position in shares of L3Harris Technologies in the 2nd quarter valued at approximately $5,525,806,000. Capital World Investors grew its position in shares of L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after purchasing an additional 329,910 shares during the period. State Street Corp increased its stake in L3Harris Technologies by 1.6% during the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after purchasing an additional 106,430 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. BNP Paribas Exane dropped their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, UBS Group dropped their price target on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

LHX opened at $267.03 on Friday. 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 12-month low of $262.68 and a 12-month high of $379.23. The business has a 50 day moving average of $289.65 and a 200-day moving average of $320.67. The stock has a market cap of $49.72 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.16 and a beta of 0.51.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $1.25 dividend. 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 currently 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.