Private Advisory Group LLC Makes New $10.29 Million Investment in L3Harris Technologies Inc $LHX

Private Advisory Group LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel.com reports. The firm bought 35,408 shares of the company’s stock, valued at approximately $10,289,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allstate Corp increased its position in L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after acquiring an additional 7,219 shares during the period. Swiss National Bank boosted its holdings in L3Harris Technologies by 7.1% in the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after purchasing an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in L3Harris Technologies by 23.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock valued at $64,920,000 after purchasing an additional 41,414 shares during the period. Goldman Sachs Group Inc. grew its position in L3Harris Technologies by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock worth $531,416,000 after purchasing an additional 110,423 shares during the last quarter. Finally, Atria Investments Inc grew its position in L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after purchasing an additional 6,482 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. BNP Paribas Exane reduced 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 note on Thursday, July 30th. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Susquehanna cut their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a report on Friday, July 31st. 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 currently has an average rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies Stock Up 1.1%

LHX opened at $291.62 on Friday. The company has a market capitalization of $54.30 billion, a P/E ratio of 29.46, a P/E/G ratio of 1.10 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. The firm’s fifty day moving average price is $292.85 and its two-hundred day moving average price is $323.48. L3Harris Technologies Inc has a fifty-two week low of $262.68 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating 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%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, analysts anticipate that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is 50.51%.

L3Harris Technologies 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.