L3Harris Technologies Inc $LHX Shares Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. grew its position in L3Harris Technologies Inc (NYSE:LHX) by 560.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 133,279 shares of the company’s stock after buying an additional 113,113 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in L3Harris Technologies were worth $31,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of LHX. Concurrent Investment Advisors LLC raised its position in shares of L3Harris Technologies by 29.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 53,138 shares of the company’s stock worth $15,441,000 after buying an additional 12,059 shares in the last quarter. Community Trust & Investment Co. lifted its stake in shares of L3Harris Technologies by 8.2% in the 3rd quarter. Community Trust & Investment Co. now owns 63,777 shares of the company’s stock worth $15,101,000 after acquiring an additional 4,828 shares during the period. Meeder Advisory Services Inc. bought a new position in shares of L3Harris Technologies in the second quarter valued at approximately $1,397,000. ASK Capital Investment Managers LLC acquired a new position in shares of L3Harris Technologies during the third quarter valued at approximately $1,839,000. Finally, Swiss National Bank increased its stake in shares of L3Harris Technologies by 7.1% during the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after acquiring an additional 36,320 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group cut L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Wednesday, August 26th. Sanford C. Bernstein decreased their price target on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Melius Research cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Guggenheim assumed coverage on L3Harris Technologies in a research note on Monday, September 14th. They issued a “buy” rating and a $365.00 price objective on the stock. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday, November 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $340.93.

L3Harris Technologies Trading Up 0.2%

Shares of NYSE:LHX opened at $272.42 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. The stock has a market capitalization of $50.72 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.66 and a beta of 0.47. L3Harris Technologies Inc has a 1-year low of $232.34 and a 1-year high of $379.23. The company has a 50 day moving average price of $251.22 and a 200 day moving average price of $301.15.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the company earned $2.70 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, research analysts anticipate that L3Harris Technologies Inc will post 12.10 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s payout ratio is 46.64%.

About L3Harris Technologies

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.