L3Harris Technologies Inc $LHX Stock Acquired by Lido Advisors LLC

Lido Advisors LLC lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,687 shares of the company’s stock after purchasing an additional 15,228 shares during the period. Lido Advisors LLC owned about 0.07% of L3Harris Technologies worth $31,655,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cornerstone Wealth Management LLC raised its stake in L3Harris Technologies by 24.8% during the third quarter. Cornerstone Wealth Management LLC now owns 1,164 shares of the company’s stock valued at $276,000 after buying an additional 231 shares in the last quarter. Triton Wealth Management PLLC lifted its holdings in L3Harris Technologies by 31.5% during the 3rd quarter. Triton Wealth Management PLLC now owns 1,077 shares of the company’s stock worth $255,000 after buying an additional 258 shares during the last quarter. Welch & Forbes LLC lifted its holdings in L3Harris Technologies by 7.7% during the 3rd quarter. Welch & Forbes LLC now owns 149,824 shares of the company’s stock worth $35,475,000 after buying an additional 10,723 shares during the last quarter. Nemes Rush Group LLC grew its position in shares of L3Harris Technologies by 1.6% in the 3rd quarter. Nemes Rush Group LLC now owns 30,077 shares of the company’s stock worth $7,122,000 after acquiring an additional 468 shares in the last quarter. Finally, M&G PLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $13,871,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $265.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. Melius Research lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday, November 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $340.93.

L3Harris Technologies Price Performance

LHX opened at $276.28 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $250.52 and its 200 day moving average price is $302.40. L3Harris Technologies Inc has a fifty-two week low of $232.34 and a fifty-two week high of $379.23. The firm has a market cap of $51.44 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.66 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 29th. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.92 billion. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. L3Harris Technologies’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.70 earnings per share. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 12.10 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is 46.64%.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.