Quantinno Capital Management LP Purchases 79,634 Shares of L3Harris Technologies Inc $LHX

Quantinno Capital Management LP increased its position in L3Harris Technologies Inc (NYSE:LHX) by 41.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,021 shares of the company’s stock after buying an additional 79,634 shares during the period. Quantinno Capital Management LP’s holdings in L3Harris Technologies were worth $93,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allstate Corp boosted its position in L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares during the period. Whalen Wealth Management Inc. bought a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $907,000. Swiss National Bank raised its position in shares of L3Harris Technologies by 7.1% in the first quarter. Swiss National Bank now owns 549,029 shares of the company’s stock valued at $189,497,000 after purchasing an additional 36,320 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of L3Harris Technologies by 23.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after buying an additional 41,414 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in shares of L3Harris Technologies by 77.9% during the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after buying an additional 6,482 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LHX shares. Sanford C. Bernstein lowered their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. UBS Group lowered their price target on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Finally, Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $361.70.

L3Harris Technologies Stock Up 1.2%

LHX opened at $303.74 on Tuesday. The business has a 50 day moving average of $299.22 and a 200-day moving average of $328.63. The stock has a market capitalization of $56.58 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 1.52 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 1-year low of $267.25 and a 1-year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. L3Harris Technologies’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.54 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business 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 dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is presently 54.29%.

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.