SFE Investment Counsel Invests $6.91 Million in L3Harris Technologies Inc $LHX

SFE Investment Counsel acquired a new position in L3Harris Technologies Inc (NYSE:LHX) during the second quarter, Holdings Channel reports. The firm acquired 23,782 shares of the company’s stock, valued at approximately $6,911,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after purchasing an additional 190,955 shares in the last quarter. Capital World Investors grew its stake in L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after buying an additional 329,910 shares in the last quarter. State Street Corp increased its holdings in shares of L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after buying an additional 141,442 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after buying an additional 106,430 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after buying an additional 124,797 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LHX has been the topic of a number of research reports. Susquehanna lowered their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. UBS Group reduced their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $365.00.

L3Harris Technologies Stock Up 1.1%

Shares of NYSE:LHX opened at $291.62 on Friday. L3Harris Technologies Inc has a 12-month low of $262.68 and a 12-month high of $379.23. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $292.85 and its 200-day moving average price is $323.48. The stock has a market capitalization of $54.30 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

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

L3Harris Technologies Dividend Announcement

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 paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s payout ratio is presently 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.