Lombard Odier Asset Management Switzerland SA Invests $1.51 Million in L3Harris Technologies Inc $LHX

Lombard Odier Asset Management Switzerland SA bought a new stake in L3Harris Technologies Inc (NYSE:LHX) in the first quarter, HoldingsChannel reports. The firm bought 4,369 shares of the company’s stock, valued at approximately $1,508,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 worth $6,872,710,000 after purchasing an additional 190,955 shares during the period. Capital World Investors increased its stake in shares of 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 acquiring an additional 329,910 shares in the last quarter. State Street Corp increased its stake 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 acquiring an additional 141,442 shares in the last quarter. Geode Capital Management LLC lifted its position in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after acquiring an additional 106,430 shares during the period. Finally, Morgan Stanley lifted its position in 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 acquiring an additional 124,797 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Sanford C. Bernstein cut their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Finally, Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.70.

L3Harris Technologies Stock Performance

LHX stock opened at $303.74 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 1 year low of $267.25 and a 1 year high of $379.23. The company has a market cap of $56.58 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.51. The stock’s fifty day moving average price is $299.22 and its 200-day moving average price is $328.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.54 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.

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.