Saranac Partners Ltd Has $429,000 Holdings in L3Harris Technologies Inc $LHX

Saranac Partners Ltd lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 93.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,478 shares of the company’s stock after selling 20,414 shares during the quarter. Saranac Partners Ltd’s holdings in L3Harris Technologies were worth $429,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LHX. Allstate Corp increased its stake in shares of L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares during the period. Swiss National Bank boosted its stake in L3Harris Technologies by 7.1% during the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after purchasing an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock valued at $64,920,000 after purchasing an additional 41,414 shares during the period. Atria Investments Inc grew its holdings in L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock valued at $4,345,000 after buying an additional 6,482 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in L3Harris Technologies by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock valued at $531,416,000 after buying an additional 110,423 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. UBS Group dropped their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Susquehanna decreased their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Two investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $267.03 on Monday. L3Harris Technologies Inc has a 12 month low of $262.68 and a 12 month high of $379.23. The company has a market capitalization of $49.72 billion, a P/E ratio of 26.97, a P/E/G ratio of 1.16 and a beta of 0.51. The stock has a 50 day moving average of $289.65 and a two-hundred day moving average of $320.54. 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 (NYSE:LHX) last released its quarterly earnings data 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 business had revenue of $5.88 billion for 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%.L3Harris Technologies’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.78 earnings per share. 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 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid 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 yield of 1.9%. L3Harris Technologies’s payout ratio is currently 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.