Ridgewood Investments LLC Purchases New Stake in L3Harris Technologies Inc $LHX

Ridgewood Investments LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,585 shares of the company’s stock, valued at approximately $612,000.

Several other large investors also recently made changes to their positions in LHX. Doliver Advisors LP raised its position in L3Harris Technologies by 13.9% in the third quarter. Doliver Advisors LP now owns 6,517 shares of the company’s stock valued at $1,543,000 after purchasing an additional 797 shares during the period. Stonebridge Financial Group LLC boosted its position in shares of L3Harris Technologies by 4.6% in the third quarter. Stonebridge Financial Group LLC now owns 19,974 shares of the company’s stock worth $4,729,000 after buying an additional 879 shares during the period. Parrish Capital LLC boosted its position in shares of L3Harris Technologies by 12.2% in the third quarter. Parrish Capital LLC now owns 5,180 shares of the company’s stock worth $1,227,000 after buying an additional 565 shares during the period. State Street Corp grew its stake in shares of L3Harris Technologies by 2.9% in the second quarter. State Street Corp now owns 9,097,353 shares of the company’s stock valued at $2,643,600,000 after buying an additional 252,662 shares in the last quarter. Finally, Wellington Altus USA Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter valued at about $88,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LHX. Jefferies Financial Group lowered L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Wednesday, August 26th. Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies from $365.00 to $346.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 23rd. Melius Research cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. BNP Paribas Exane lowered their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Argus downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $355.92.

L3Harris Technologies Stock Up 0.2%

NYSE:LHX traded up $0.55 during mid-day trading on Monday, reaching $237.15. The stock had a trading volume of 1,273,527 shares, compared to its average volume of 1,508,960. L3Harris Technologies Inc has a 1-year low of $234.01 and a 1-year high of $379.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The company has a market capitalization of $44.16 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.51 and a beta of 0.50. The stock’s 50 day simple moving average is $264.22 and its two-hundred day simple moving average is $298.42.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data 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 business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.91 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, September 4th. L3Harris Technologies’s dividend payout ratio is presently 50.51%.

About L3Harris Technologies

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.