Old West Investment Management LLC Makes New $2.44 Million Investment in L3Harris Technologies Inc $LHX

Old West Investment Management LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,415 shares of the company’s stock, valued at approximately $2,445,000.

Other hedge funds have also modified their holdings of the company. Fideuram Asset Management Ireland dac purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in L3Harris Technologies in the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $25,000. Cedar Mountain Advisors LLC boosted its position in shares of 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 purchasing an additional 74 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of L3Harris Technologies during the 4th quarter worth $29,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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. Susquehanna decreased their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. UBS Group dropped their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $365.00.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $291.62 on Monday. 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 50-day moving average price of $292.85 and a two-hundred day moving average price of $323.26. L3Harris Technologies Inc has a twelve month low of $262.68 and a twelve month high of $379.23. The company has a market capitalization of $54.30 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s payout ratio is currently 50.51%.

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.