Thornburg Investment Management Inc. Raises Stake in L3Harris Technologies Inc $LHX

Thornburg Investment Management Inc. raised its position in L3Harris Technologies Inc (NYSE:LHX) by 20.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,148 shares of the company’s stock after purchasing an additional 26,450 shares during the period. Thornburg Investment Management Inc. owned 0.08% of L3Harris Technologies worth $44,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of L3Harris Technologies during the 2nd quarter worth $5,525,806,000. Capital World Investors increased its holdings in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after buying an additional 329,910 shares during the last quarter. State Street Corp raised its stake in L3Harris Technologies by 1.6% in the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after buying an additional 141,442 shares in the last quarter. Geode Capital Management LLC lifted its holdings in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after buying an additional 106,430 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in L3Harris Technologies by 7.1% during the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock worth $1,367,832,000 after buying an additional 313,431 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LHX. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group decreased their target price on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Sanford C. Bernstein lowered their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Jefferies Financial Group lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Wednesday. Finally, BNP Paribas Exane cut their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $360.45.

L3Harris Technologies Stock Up 0.5%

Shares of NYSE LHX opened at $263.31 on Friday. The stock has a market cap of $49.03 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. L3Harris Technologies Inc has a 52-week low of $258.54 and a 52-week high of $379.23. The business has a 50-day moving average price of $285.55 and a 200 day moving average price of $317.80.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm 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 dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. L3Harris Technologies’s dividend payout ratio (DPR) is 50.51%.

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.