Flputnam Investment Management Co. Makes New $3.01 Million Investment in L3Harris Technologies Inc $LHX

Flputnam Investment Management Co. purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,362 shares of the company’s stock, valued at approximately $3,011,000.

A number of other institutional investors have also modified their holdings of LHX. Global Retirement Partners LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $902,000. 1ST Source Bank acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $845,000. SCS Capital Management LLC purchased a new position in L3Harris Technologies in the second quarter worth $5,212,000. Bank of New York Mellon Corp acquired a new position in shares of L3Harris Technologies during the second quarter worth $752,983,000. Finally, Private Advisory Group LLC purchased a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $10,289,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.1%

L3Harris Technologies stock opened at $291.62 on Monday. The stock has a 50-day moving average price of $292.85 and a 200 day moving average price of $323.26. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46.

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

L3Harris Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LHX shares. UBS Group reduced their target price 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. Sanford C. Bernstein decreased their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Susquehanna cut their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Finally, BNP Paribas Exane decreased their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

L3Harris Technologies Company 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.