Groupe la Francaise Cuts Stock Position in L3Harris Technologies Inc $LHX

by · The Markets Daily

Groupe la Francaise decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 40.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 15,893 shares of the company’s stock after selling 10,991 shares during the period. Groupe la Francaise’s holdings in L3Harris Technologies were worth $4,618,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Jump Financial LLC boosted its position in shares of L3Harris Technologies by 14.9% in the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after buying an additional 388 shares during the period. NewEdge Advisors LLC grew its stake in shares of L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after buying an additional 2,130 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $856,000. Finally, CIBC Asset Management Inc raised its holdings in shares of L3Harris Technologies by 116.2% during the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after buying an additional 33,321 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $256.45 on Tuesday. L3Harris Technologies Inc has a fifty-two week low of $256.05 and a fifty-two week high of $379.23. The business has a 50 day moving average price of $282.12 and a two-hundred day moving average price of $314.08. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The firm has a market cap of $47.75 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.64 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the business earned $2.78 EPS. L3Harris Technologies’s revenue for the quarter was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent research reports. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. BNP Paribas Exane reduced their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Wednesday, August 26th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $360.45.

View Our Latest Stock Analysis on L3Harris Technologies

L3Harris Technologies Profile

(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.

Further Reading

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