Renasant Bank Purchases New Holdings in L3Harris Technologies Inc $LHX

Renasant Bank acquired a new position in L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 3,016 shares of the company’s stock, valued at approximately $876,000.

A number of other hedge funds have also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new stake in shares of L3Harris Technologies during the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. Motiv8 Investments LLC bought a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. Cedar Mountain Advisors LLC increased its position in L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares during the period. Finally, Abound Financial LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth about $29,000. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

LHX opened at $266.53 on Tuesday. The stock has a market cap of $49.63 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.14 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $258.54 and a 12 month 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. The company has a fifty day simple moving average of $285.16 and a 200 day simple moving average of $317.02.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping 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 firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $2.78 earnings per share. The company’s revenue for the quarter 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 expect that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LHX. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Wednesday, August 26th. UBS Group cut their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. BNP Paribas Exane reduced their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, Susquehanna lowered their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a report on Friday, July 31st. Two 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 company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target 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.