Pallas Capital Advisors LLC Makes New Investment in L3Harris Technologies Inc $LHX

Pallas Capital Advisors LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel.com reports. The fund bought 2,337 shares of the company’s stock, valued at approximately $679,000.

Several other institutional investors have also modified their holdings of the company. REAP Financial Group LLC grew its position in L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock worth $74,000 after purchasing an additional 29 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in L3Harris Technologies by 5.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock valued at $161,000 after buying an additional 30 shares in the last quarter. Turtle Creek Wealth Advisors LLC boosted its stake in L3Harris Technologies by 3.7% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after buying an additional 31 shares in the last quarter. Keudell Morrison Wealth Management grew its holdings in L3Harris Technologies by 0.7% during the first quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company’s stock worth $1,598,000 after acquiring an additional 31 shares during the period. Finally, Prestige Wealth Management Group LLC raised its position in L3Harris Technologies by 25.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 159 shares of the company’s stock worth $47,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LHX shares. UBS Group cut their price target on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Sanford C. Bernstein lowered their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. 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. Finally, Susquehanna reduced their target price 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 analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

L3Harris Technologies Stock Down 0.9%

Shares of L3Harris Technologies stock opened at $276.98 on Thursday. The stock has a 50-day moving average price of $291.30 and a 200 day moving average price of $321.56. 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 company has a market cap of $51.58 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.06 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $262.68 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping the consensus estimate of $2.80 by $0.33. The business 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 period last year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. 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.