Equitable Holdings Inc. Lowers Stake in L3Harris Technologies Inc $LHX

Equitable Holdings Inc. reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 19.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,615 shares of the company’s stock after selling 2,295 shares during the period. Equitable Holdings Inc.’s holdings in L3Harris Technologies were worth $2,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Coastal Bridge Advisors LLC raised its position in L3Harris Technologies by 3.1% during the second quarter. Coastal Bridge Advisors LLC now owns 3,335 shares of the company’s stock valued at $969,000 after purchasing an additional 101 shares in the last quarter. Triton Financial Group Inc purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth about $1,692,000. Proficio Capital Partners LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $338,000. Pure Financial Advisors LLC raised its holdings in shares of L3Harris Technologies by 6.7% during the 2nd quarter. Pure Financial Advisors LLC now owns 2,467 shares of the company’s stock valued at $717,000 after buying an additional 154 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of L3Harris Technologies by 5.8% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 2,353 shares of the company’s stock valued at $684,000 after buying an additional 129 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on LHX. 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, BNP Paribas Exane decreased their target price on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a research 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $360.45.

L3Harris Technologies Price Performance

LHX opened at $261.78 on Friday. 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 stock’s 50 day simple moving average is $286.18 and its 200 day simple moving average is $318.19. The firm has a market cap of $48.75 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.14 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $258.54 and a 1 year high of $379.23.

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 the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion during 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 business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given 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 is presently 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.