Citizens Financial Group Inc. RI Makes New $2.98 Million Investment in L3Harris Technologies Inc $LHX

Citizens Financial Group Inc. RI purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 10,268 shares of the company’s stock, valued at approximately $2,984,000.

Other hedge funds also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc acquired a new position in L3Harris Technologies in the second quarter worth approximately $485,000. Pavion Blue Capital LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $262,000. Buckland Partners Management Co LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $1,504,000. UNIVEST FINANCIAL Corp bought a new stake in shares of L3Harris Technologies during the 2nd quarter worth $11,785,000. Finally, MidFirst Bank acquired a new position in shares of L3Harris Technologies in the 2nd quarter worth $341,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 4.7%

NYSE LHX opened at $278.05 on Tuesday. The firm’s 50 day moving average price is $292.38 and its two-hundred day moving average price is $322.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies Inc has a twelve month low of $262.68 and a twelve month high of $379.23. The stock has a market cap of $51.78 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.10 and a beta of 0.51.

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

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s payout ratio is presently 50.51%.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: L3Harris appointed insider Sam Mehta as president and chief executive officer effective immediately. Mehta’s familiarity with the business could help provide continuity and limit disruption while the company manages the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: A new Rhode Island facility is expanding L3Harris’ undersea-defense capabilities, including advanced training systems for U.S. and allied fleets. The investment may support long-term growth in an area benefiting from increased defense demand. Can L3Harris’ New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: The leadership transition is effective immediately, and additional details about the conduct violation were not disclosed. Investors will likely watch for information on Mehta’s strategic priorities, the board’s governance process and any effect on customer or government relationships. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct
• Negative Sentiment: Kubasik’s departure is particularly sensitive because he previously left Lockheed Martin after acknowledging an improper relationship with a subordinate. The repeat conduct-related controversy may heighten reputational and governance concerns surrounding L3Harris. L3Harris ousts CEO Christopher Kubasik after probe finds he violated code of conduct

Analyst Upgrades and Downgrades

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