L3Harris Technologies Inc $LHX Stock: Fragasso Financial Advisors Inc Cuts Holdings

Fragasso Financial Advisors Inc decreased its position in L3Harris Technologies Inc (NYSE:LHX) by 29.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,635 shares of the company’s stock after selling 2,714 shares during the period. Fragasso Financial Advisors Inc’s holdings in L3Harris Technologies were worth $1,572,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. NBH Bank acquired a new position in L3Harris Technologies during the second quarter worth $26,000. Cedar Mountain Advisors LLC grew its stake in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after buying an additional 74 shares during the last quarter. Abound Financial LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at $29,000. Tower View Wealth Management LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at about $29,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of L3Harris Technologies by 80.0% in the second 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. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX traded down $3.06 during trading on Tuesday, reaching $235.19. 467,266 shares of the stock traded hands, compared to its average volume of 1,492,368. L3Harris Technologies Inc has a 52-week low of $232.34 and a 52-week high of $379.23. The company has a 50-day moving average of $257.97 and a 200-day moving average of $293.28. The stock has a market capitalization of $43.80 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.51 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last posted its 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 return on equity of 10.96% and a net margin of 8.17%. 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 prior year, the business posted $2.78 earnings per share. The business’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. Analysts forecast that L3Harris Technologies Inc will post 11.91 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.1%. L3Harris Technologies’s dividend payout ratio (DPR) is 50.51%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LHX shares. Jefferies Financial Group cut L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Wednesday, August 26th. Sanford C. Bernstein reduced their target price on L3Harris Technologies from $365.00 to $346.00 and set an “outperform” rating on the stock in a report on Wednesday, September 23rd. BNP Paribas Exane decreased their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. TD Cowen dropped their price objective on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Susquehanna dropped their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $350.86.

L3Harris Technologies Profile

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.