Pallas Capital Advisors LLC Purchases New Stake in L3Harris Technologies Inc $LHX

Pallas Capital Advisors LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,337 shares of the company’s stock, valued at approximately $679,000.

Several other institutional investors also recently bought and sold shares of LHX. Cedar Mountain Advisors LLC lifted its holdings 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 valued at $28,000 after acquiring an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in L3Harris Technologies in the 4th quarter valued at $25,000. Tower View Wealth Management LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $29,000. Fideuram Asset Management Ireland dac purchased a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. Finally, Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. BNP Paribas Exane dropped their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group reduced their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $276.98 on Thursday. The stock has a market capitalization of $51.58 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.06 and a beta of 0.51. L3Harris Technologies Inc has a one year low of $262.68 and a one year high of $379.23. The company’s 50-day simple moving average is $291.30 and its 200-day simple moving average is $321.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $2.78 earnings per share. L3Harris Technologies’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 declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders 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 dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

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.