15,228 L3Harris Technologies Inc $LHX Shares Bought by Lido Advisors LLC

Lido Advisors LLC lifted its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.9% in the 3rd quarter, Holdings Channel reports. The fund owned 133,687 shares of the company’s stock after buying an additional 15,228 shares during the period. Lido Advisors LLC’s holdings in L3Harris Technologies were worth $31,655,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $5,525,806,000. State Street Corp boosted its stake in L3Harris Technologies by 2.9% during the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after purchasing an additional 252,662 shares during the period. Wellington Management Group LLP boosted its stake in L3Harris Technologies by 7.1% during the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock valued at $1,367,832,000 after purchasing an additional 313,431 shares during the period. Bank of New York Mellon Corp bought a new position in L3Harris Technologies in the 2nd quarter worth about $752,983,000. Finally, Bank of America Corp DE grew its position in L3Harris Technologies by 22.3% in the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock worth $661,905,000 after purchasing an additional 350,313 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several analyst reports. BNP Paribas Exane dropped their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Susquehanna cut their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Guggenheim began coverage on L3Harris Technologies in a research report on Monday, September 14th. They set a “buy” rating and a $365.00 price objective for the company. Melius Research lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Sanford C. Bernstein lowered their target price on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.93.

L3Harris Technologies Price Performance

Shares of LHX opened at $276.28 on Wednesday. L3Harris Technologies Inc has a one year low of $232.34 and a one year high of $379.23. The stock’s fifty day moving average is $250.52 and its 200-day moving average is $302.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. The firm has a market capitalization of $51.44 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.66 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.33. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.70 earnings per share. Equities analysts anticipate that L3Harris Technologies Inc will post 12.10 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 annualized dividend and a yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 46.64%.

L3Harris Technologies Company Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.