Robinhood Asset Management LLC Grows Stock Position in L3Harris Technologies Inc $LHX

Robinhood Asset Management LLC increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 34.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,756 shares of the company’s stock after purchasing an additional 5,581 shares during the period. Robinhood Asset Management LLC’s holdings in L3Harris Technologies were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Callan Family Office LLC increased its stake in L3Harris Technologies by 3.0% in the 2nd quarter. Callan Family Office LLC now owns 8,296 shares of the company’s stock valued at $2,411,000 after buying an additional 238 shares during the period. Allworth Financial LP lifted its stake in shares of L3Harris Technologies by 42.3% in the 2nd quarter. Allworth Financial LP now owns 6,398 shares of the company’s stock worth $1,859,000 after acquiring an additional 1,902 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $43,617,000. Ninepoint Partners LP purchased a new stake in shares of L3Harris Technologies in the second quarter valued at about $248,000. Finally, SGL Investment Advisors Inc. increased its stake in shares of L3Harris Technologies by 0.3% during the second quarter. SGL Investment Advisors Inc. now owns 13,449 shares of the company’s stock worth $3,896,000 after acquiring an additional 42 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 1.3%

Shares of LHX opened at $267.03 on Friday. L3Harris Technologies Inc has a twelve month low of $262.68 and a twelve month high of $379.23. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $49.72 billion, a P/E ratio of 26.97, a PEG ratio of 1.17 and a beta of 0.51. The firm’s 50-day moving average is $289.65 and its two-hundred day moving average is $320.67.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.78 EPS. 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 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 annualized dividend and a yield of 1.9%. L3Harris Technologies’s payout ratio is currently 50.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LHX shares. Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. BNP Paribas Exane reduced their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, UBS Group dropped their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $365.00.

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.