L3Harris Technologies Inc $LHX Stock: Machina Capital S.A.S. Increases Holdings

Machina Capital S.A.S. increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 42.3% during the 3rd quarter, Holdings Channel reports. The fund owned 11,006 shares of the company’s stock after buying an additional 3,272 shares during the quarter. Machina Capital S.A.S.’s holdings in L3Harris Technologies were worth $2,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. raised its holdings in L3Harris Technologies by 10.2% in the third quarter. Mesirow Financial Investment Management Inc. now owns 2,864 shares of the company’s stock worth $678,000 after purchasing an additional 264 shares during the period. Lido Advisors LLC boosted its position in shares of L3Harris Technologies by 12.9% during the third quarter. Lido Advisors LLC now owns 133,687 shares of the company’s stock worth $31,655,000 after purchasing an additional 15,228 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of L3Harris Technologies by 24.8% in the 3rd 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 during the period. Triton Wealth Management PLLC grew its holdings in shares of L3Harris Technologies by 31.5% in the 3rd quarter. Triton Wealth Management PLLC now owns 1,077 shares of the company’s stock valued at $255,000 after buying an additional 258 shares during the period. Finally, Welch & Forbes LLC grew its holdings in shares of L3Harris Technologies by 7.7% in the 3rd quarter. Welch & Forbes LLC now owns 149,824 shares of the company’s stock valued at $35,475,000 after buying an additional 10,723 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE LHX opened at $276.28 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 1.20. The stock has a market cap of $51.44 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.69 and a beta of 0.47. The business has a 50 day simple moving average of $250.79 and a 200 day simple moving average of $302.01. L3Harris Technologies Inc has a 52-week low of $232.34 and a 52-week high of $379.23.

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

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $1.25 per share. 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 is currently 46.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LHX. The Goldman Sachs Group lowered their price objective on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Royal Bank Of Canada lifted their target price on L3Harris Technologies from $265.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. Deutsche Bank reiterated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Finally, Guggenheim began coverage on L3Harris Technologies in a research note on Monday, September 14th. They issued a “buy” rating and a $365.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.93.

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.