Equitable Holdings Inc. Trims Holdings in L3Harris Technologies Inc $LHX

Equitable Holdings Inc. decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 19.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,615 shares of the company’s stock after selling 2,295 shares during the period. Equitable Holdings Inc.’s holdings in L3Harris Technologies were worth $2,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares during the period. Jump Financial LLC boosted its holdings in L3Harris Technologies by 14.9% in the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after acquiring an additional 388 shares in the last quarter. NewEdge Advisors LLC increased its position in L3Harris Technologies by 14.2% during the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after purchasing an additional 2,130 shares during the period. Nebula Research & Development LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth approximately $856,000. Finally, CIBC Asset Management Inc raised its holdings in L3Harris Technologies by 116.2% in the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after acquiring an additional 33,321 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $261.78 on Friday. The stock has a 50-day simple moving average of $286.18 and a two-hundred day simple moving average of $318.19. L3Harris Technologies Inc has a 52-week low of $258.54 and a 52-week high of $379.23. 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 firm has a market capitalization of $48.75 billion, a PE ratio of 26.44, a P/E/G ratio of 1.14 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business posted $2.78 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research analyst reports. Susquehanna reduced their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. UBS Group reduced their price target on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $360.45.

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.