Meeder Asset Management Inc. Makes New Investment in L3Harris Technologies Inc $LHX

Meeder Asset Management Inc. purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,285 shares of the company’s stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LHX. Vanguard Group Inc. grew its holdings in L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. BlackRock Inc. purchased a new position in L3Harris Technologies during the second quarter worth approximately $5,525,806,000. Capital World Investors raised its stake in L3Harris Technologies by 2.9% during the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after purchasing an additional 329,910 shares during the period. State Street Corp boosted its holdings in shares of L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after purchasing an additional 141,442 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after purchasing an additional 106,430 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $280.26 on Wednesday. The firm has a market cap of $52.19 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies Inc has a 1 year low of $262.68 and a 1 year high of $379.23. The stock has a 50-day simple moving average of $291.83 and a 200-day simple moving average of $322.11.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the firm posted $2.78 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is 50.51%.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Experienced successor appointed immediately: L3Harris named Sam Mehta president and CEO effective immediately. Mehta is an aerospace and defense executive with company experience, which may reduce uncertainty around operations and customer relationships during the transition. L3Harris names insider Sam Mehta CEO as Christopher Kubasik steps down
• Positive Sentiment: Defense technology demonstrated: At the Army’s Project Convergence-Capstone 6 exercise, L3Harris showcased interoperable communications, Link 16 integration, sensors and effectors designed for coordinated operations in contested environments. The event supports the company’s positioning in multi-domain defense systems and potential future government contracts. L3Harris Demonstrates Multi-Domain Supremacy at Annual Project Convergence Exercise
• Positive Sentiment: Undersea-defense expansion continues: A new Rhode Island facility is intended to support advanced training systems for U.S. and allied fleets, potentially strengthening L3Harris’s undersea-defense growth prospects. Can L3Harris’ New Rhode Island Facility Strengthen Undersea Growth?
• Neutral Sentiment: Operations were not cited as the issue: The board said Kubasik’s departure followed an investigation into a conduct violation unrelated to the company’s financial reporting. Investors will likely focus on whether the leadership change affects execution, government contracts or strategic priorities.
• Negative Sentiment: CEO’s abrupt dismissal weighs on confidence: Kubasik was removed after the board determined he violated L3Harris’s code of conduct. The sudden change creates governance and continuity concerns, while reports that he previously left Lockheed Martin over an improper relationship may intensify reputational concerns. Defense contractor L3Harris ousts CEO Chris Kubasik over unspecified conduct

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LHX. Susquehanna cut their target price on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. BNP Paribas Exane cut their price objective on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies 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.