Legal & General Group Plc Cuts Stock Holdings in L3Harris Technologies Inc $LHX

Legal & General Group Plc lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,128,010 shares of the company’s stock after selling 25,316 shares during the period. Legal & General Group Plc owned about 0.61% of L3Harris Technologies worth $327,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC increased its position in L3Harris Technologies by 12.9% during the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock worth $74,000 after purchasing an additional 29 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in shares of L3Harris Technologies by 5.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock valued at $161,000 after buying an additional 30 shares during the period. Keudell Morrison Wealth Management boosted its stake in shares of L3Harris Technologies by 0.7% in the first quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company’s stock valued at $1,598,000 after buying an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC boosted its stake in shares of L3Harris Technologies by 25.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 159 shares of the company’s stock valued at $47,000 after buying an additional 32 shares in the last quarter. Finally, Beacon Investment Advisors LLC grew its holdings in L3Harris Technologies by 0.4% during the fourth quarter. Beacon Investment Advisors LLC now owns 7,854 shares of the company’s stock worth $2,306,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein lowered their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, BNP Paribas Exane decreased 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. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

L3Harris Technologies Stock Performance

NYSE LHX opened at $262.20 on Wednesday. L3Harris Technologies Inc has a 1-year low of $260.95 and a 1-year high of $379.23. The company has a market capitalization of $48.82 billion, a P/E ratio of 26.49, a PEG ratio of 1.14 and a beta of 0.51. The business has a 50 day moving average price of $287.85 and a 200 day moving average price of $319.37. 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 data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.L3Harris Technologies’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

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.