I'm LongbridgeAI, I can summarize articles.Allstate Corp reduced its L3Harris Technologies holdings by 23.5% in Q2, leaving $4.16 million in shares per SEC filings. Other institutions like Cedar Mountain Advisors significantly increased their stakes. Meanwhile, analyst ratings for LHX vary, with Weiss Ratings downgrading slightly and Truist upgrading to 'strong-buy'. L3Harris recently reported strong quarterly earnings, beating estimates on both EPS and revenue, and declared a $1.25 quarterly dividend.
Allstate Corp reduced its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,328 shares of the company's stock after selling 4,394 shares during the period. Allstate Corp's holdings in L3Harris Technologies were worth $4,164,000 as of its most recent filing with the Securities and Exchange Commission.
- L3Harris’ Record Backlog Makes Its Stock Sell-Off Look Overdone
Several other institutional investors and hedge funds also recently made changes to their positions in LHX. Cedar Mountain Advisors LLC lifted its holdings in L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after buying an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $25,000. Tower View Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the first quarter valued at about $29,000. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. Finally, Motiv8 Investments LLC bought a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. Institutional investors and hedge funds own 84.76% of the company's stock.
Get L3Harris Technologies alerts:
Analyst Upgrades and Downgrades
LHX has been the topic of several analyst reports. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Susquehanna lowered their price target 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. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, UBS Group lowered their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $365.00.
- After 15% L3Harris Price Drop, Is It Time to Buy or Time to Fly?
View Our Latest Analysis on L3Harris Technologies
L3Harris Technologies Trading Up 0.1%
NYSE LHX opened at $267.03 on Monday. The stock has a market capitalization of $49.72 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.16 and a beta of 0.51. The business has a 50 day simple moving average of $289.65 and a 200 day simple moving average of $320.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23.
- Why This Defense ETF Could Keep Rallying as the Iran Conflict Escalates
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is presently 50.51%.
About L3Harris Technologies
(Free Report)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.
Read More
- Five stocks we like better than L3Harris Technologies
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab's Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Add As Preferred Source
Should You Invest $1,000 in L3Harris Technologies Right Now?
Before you consider L3Harris Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and L3Harris Technologies wasn't on the list.
While L3Harris Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here