Meeder Advisory Services Inc. Acquires New Position in L3Harris Technologies Inc $LHX

Meeder Advisory Services Inc. acquired a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,809 shares of the company’s stock, valued at approximately $1,397,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 0.8% in the 4th 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 last quarter. BlackRock Inc. acquired a new stake in L3Harris Technologies in the 2nd quarter valued at approximately $5,525,806,000. Capital World Investors lifted its holdings in shares of 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 buying an additional 329,910 shares during the last quarter. State Street Corp boosted its position in shares of L3Harris Technologies by 1.6% in the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the period. Finally, Geode Capital Management LLC raised its stake in L3Harris Technologies by 2.1% during 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. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LHX. UBS Group lowered their price target on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. BNP Paribas Exane decreased 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 research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday. Finally, Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two 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 stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.00.

L3Harris Technologies Trading Down 0.9%

Shares of NYSE LHX opened at $276.98 on Thursday. The company’s 50 day simple moving average is $291.30 and its 200 day simple moving average is $321.56. 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 firm has a market capitalization of $51.58 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.06 and a beta of 0.51. L3Harris Technologies Inc has a fifty-two week low of $262.68 and a fifty-two week high of $379.23.

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

L3Harris Technologies Announces Dividend

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