SCS Capital Management LLC Buys New Shares in L3Harris Technologies Inc $LHX

SCS Capital Management LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,937 shares of the company’s stock, valued at approximately $5,212,000.

A number of other hedge funds also recently made changes to their positions in the stock. Fideuram Asset Management Ireland dac purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth $25,000. Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies in the 4th quarter worth $25,000. Cedar Mountain Advisors LLC raised its position in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 74 shares during the period. Finally, Abound Financial LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Susquehanna lowered their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Sanford C. Bernstein cut their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. UBS Group reduced their price objective 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. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $291.62 on Monday. The firm’s fifty day simple moving average is $292.85 and its 200 day simple moving average is $323.26. 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 Inc has a twelve month low of $262.68 and a twelve month high of $379.23. The firm has a market capitalization of $54.30 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm earned $2.78 EPS. The firm’s quarterly revenue 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. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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 given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 50.51%.

L3Harris Technologies Company 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.