L3Harris Technologies Inc $LHX Stock Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 42.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,006 shares of the company’s stock after purchasing an additional 3,272 shares during the quarter. Machina Capital S.A.S.’s holdings in L3Harris Technologies were worth $2,606,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LHX. NBH Bank bought a new stake in shares of L3Harris Technologies during the second quarter worth $26,000. Elevation Wealth Partners LLC increased its stake in shares of L3Harris Technologies by 80.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 99 shares of the company’s stock valued at $29,000 after buying an additional 44 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $33,000. John Boyer Inc. bought a new stake in shares of L3Harris Technologies during the third quarter worth $31,000. Finally, Archer Investment Corp bought a new stake in shares of L3Harris Technologies during the second quarter worth $38,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup began coverage on L3Harris Technologies in a report on Monday. They issued a “buy” rating and a $348.00 price target on the stock. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Guggenheim began coverage on L3Harris Technologies in a report on Monday, September 14th. They set a “buy” rating and a $365.00 price objective for the company. Deutsche Bank restated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Finally, TD Cowen cut their target price on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.93.

L3Harris Technologies Price Performance

LHX opened at $276.28 on Thursday. The company has a fifty day moving average price of $250.79 and a two-hundred day moving average price of $302.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. L3Harris Technologies Inc has a 52 week low of $232.34 and a 52 week high of $379.23. The firm has a market capitalization of $51.44 billion, a PE ratio of 25.77, a P/E/G ratio of 1.69 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 the consensus estimate of $2.95 by $0.33. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 12.10 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

About L3Harris Technologies

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.