L3Harris Technologies Inc $LHX Stock Position Lifted by Man Group plc

Man Group plc lifted its position in L3Harris Technologies Inc (NYSE:LHX) by 5,286.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 563,720 shares of the company’s stock after acquiring an additional 553,255 shares during the quarter. Man Group plc’s holdings in L3Harris Technologies were worth $163,811,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allstate Corp boosted its holdings in shares of L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after buying an additional 7,219 shares during the period. Swiss National Bank raised its stake in L3Harris Technologies by 7.1% during the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after acquiring an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in L3Harris Technologies by 23.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after acquiring an additional 41,414 shares during the last quarter. Atria Investments Inc boosted its stake in L3Harris Technologies by 77.9% in the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock valued at $4,345,000 after acquiring an additional 6,482 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in L3Harris Technologies by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock valued at $531,416,000 after acquiring an additional 110,423 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

NYSE LHX opened at $262.20 on Wednesday. The company has a 50-day moving average price of $287.85 and a two-hundred day moving average price of $319.37. L3Harris Technologies Inc has a 52 week low of $260.95 and a 52 week high of $379.23. The stock has a market cap of $48.82 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX) last released its quarterly 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. The company had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 50.51%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LHX shares. Sanford C. Bernstein lowered their target price on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Susquehanna lowered their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Finally, UBS Group cut their target price on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Two investment 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. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

About L3Harris Technologies

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.