NewEdge Advisors LLC Buys 7,896 Shares of L3Harris Technologies Inc $LHX

NewEdge Advisors LLC increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 25.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,662 shares of the company’s stock after purchasing an additional 7,896 shares during the quarter. NewEdge Advisors LLC’s holdings in L3Harris Technologies were worth $13,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allstate Corp grew its position in shares of L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Swiss National Bank boosted its stake in L3Harris Technologies by 7.1% during the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after purchasing an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in L3Harris Technologies by 23.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock valued at $64,920,000 after buying an additional 41,414 shares during the last quarter. Atria Investments Inc increased its position in L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after buying an additional 6,482 shares during the period. Finally, Vanguard Group Inc. increased its position in L3Harris Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after buying an additional 190,955 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $286.61 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The company has a 50-day moving average of $294.74 and a 200-day moving average of $325.58. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The company has a market capitalization of $53.37 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.08 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the firm posted $2.78 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced 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. 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 1.7%. L3Harris Technologies’s dividend payout ratio is presently 50.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. BNP Paribas Exane cut their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, UBS Group dropped their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Two equities research 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. Based on data from MarketBeat.com, L3Harris Technologies presently 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.