SCS Capital Management LLC Acquires New Holdings in L3Harris Technologies Inc $LHX

SCS Capital Management LLC bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 17,937 shares of the company’s stock, valued at approximately $5,212,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Bank of New York Mellon Corp purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $752,983,000. Artisan Partners Limited Partnership lifted its stake in L3Harris Technologies by 174.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after buying an additional 1,207,334 shares in the last quarter. Two Sigma Investments LP grew its holdings in L3Harris Technologies by 560.7% during the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after buying an additional 521,312 shares during the last quarter. Boston Partners grew its holdings in L3Harris Technologies by 27.6% during the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after buying an additional 519,226 shares during the last quarter. Finally, M&T Bank Corp increased its position in L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after buying an additional 396,077 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 0.1%

Shares of LHX opened at $291.62 on Monday. The stock has a fifty day moving average of $292.85 and a two-hundred day moving average of $323.26. 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 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. 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 issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share 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 company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company posted $2.78 EPS. The business’s revenue for the quarter 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. As a group, analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

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 annualized dividend and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is 50.51%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LHX shares. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Susquehanna decreased their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. UBS Group dropped their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. BNP Paribas Exane cut 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. Finally, Sanford C. Bernstein reduced their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. 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, the company 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.