Wealthfront Advisers LLC Makes New Investment in L3Harris Technologies Inc $LHX

Wealthfront Advisers LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX) during the second quarter, Holdings Channel reports. The firm bought 13,284 shares of the company’s stock, valued at approximately $3,860,000.

Several other institutional investors also recently bought and sold shares of LHX. REAP Financial Group LLC lifted its holdings in L3Harris Technologies by 12.9% in the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock valued at $74,000 after acquiring an additional 29 shares during the period. CYBER HORNET ETFs LLC increased its holdings in shares of L3Harris Technologies by 5.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock valued at $161,000 after purchasing an additional 30 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 3.7% during the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after purchasing an additional 31 shares in the last quarter. Keudell Morrison Wealth Management lifted its stake in shares of L3Harris Technologies by 0.7% in the 1st quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company’s stock valued at $1,598,000 after purchasing an additional 31 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its holdings in L3Harris Technologies by 25.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 159 shares of the company’s stock worth $47,000 after buying an additional 32 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $270.08 on Friday. The firm’s fifty day simple moving average is $290.46 and its two-hundred day simple moving average is $321.05. L3Harris Technologies Inc has a 52-week low of $262.68 and a 52-week high of $379.23. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.20 and a beta of 0.51. 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 released its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping 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 business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter 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. Equities analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. L3Harris Technologies’s dividend payout ratio is presently 50.51%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LHX. UBS Group cut their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Sanford C. Bernstein dropped their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. BNP Paribas Exane lowered their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies 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.