Gabelli Funds LLC Has $39.84 Million Stake in L3Harris Technologies Inc $LHX

Gabelli Funds LLC grew its stake in L3Harris Technologies Inc (NYSE:LHX) by 43.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,101 shares of the company’s stock after buying an additional 41,411 shares during the period. Gabelli Funds LLC owned approximately 0.07% of L3Harris Technologies worth $39,840,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its position in shares of L3Harris Technologies by 14.5% in the second quarter. Gamco Investors INC. ET AL now owns 63,043 shares of the company’s stock valued at $18,320,000 after acquiring an additional 7,983 shares during the period. Quantbot Technologies LP bought a new position in L3Harris Technologies during the second quarter worth $9,897,000. Evolve Private Wealth LLC increased its position in L3Harris Technologies by 82.0% during the second quarter. Evolve Private Wealth LLC now owns 2,057 shares of the company’s stock worth $598,000 after acquiring an additional 927 shares during the period. WealthShield Partners LLC boosted its holdings in L3Harris Technologies by 11.8% in the 2nd quarter. WealthShield Partners LLC now owns 8,227 shares of the company’s stock valued at $2,391,000 after purchasing an additional 868 shares during the period. Finally, Varma Mutual Pension Insurance Co acquired a new stake in L3Harris Technologies in the 2nd quarter worth $14,210,000. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LHX shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein lowered their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Finally, Susquehanna cut their target price on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies Trading Down 1.3%

Shares of NYSE LHX opened at $267.03 on Friday. L3Harris Technologies Inc has a 1-year low of $262.68 and a 1-year high of $379.23. The company has a market cap of $49.72 billion, a PE ratio of 26.97, a P/E/G ratio of 1.16 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $289.65 and a two-hundred day moving average of $320.67.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 50.51%.

L3Harris Technologies 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.