Longfellow Investment Management Co. LLC Purchases New Position in L3Harris Technologies Inc $LHX

Longfellow Investment Management Co. LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 4,255 shares of the company’s stock, valued at approximately $1,236,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in L3Harris Technologies during the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC raised its position in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after buying an additional 74 shares during the last quarter. Finally, Abound Financial LLC bought a new position in L3Harris Technologies during the 4th quarter valued at $29,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein dropped 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. Susquehanna decreased their price objective 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. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, BNP Paribas Exane reduced their target price on 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 given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

L3Harris Technologies Stock Performance

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

L3Harris Technologies (NYSE:LHX) last released its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $2.78 earnings per share. The company’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. On average, research analysts predict that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.25 per share. 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%.

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.