Yacktman Asset Management LP Cuts Position in L3Harris Technologies Inc $LHX

Yacktman Asset Management LP cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 408,227 shares of the company’s stock after selling 8,553 shares during the quarter. L3Harris Technologies comprises about 1.7% of Yacktman Asset Management LP’s holdings, making the stock its 25th largest position. Yacktman Asset Management LP’s holdings in L3Harris Technologies were worth $119,843,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Caitlin John LLC purchased a new position in L3Harris Technologies in the third quarter worth $28,000. American National Bank & Trust grew its position in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after acquiring an additional 30 shares in the last quarter. JPL Wealth Management LLC purchased a new position in L3Harris Technologies in the third quarter worth $29,000. Triumph Capital Management purchased a new position in L3Harris Technologies in the third quarter worth $31,000. Finally, GGM Financials LLC bought a new stake in L3Harris Technologies in the third quarter worth $32,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. UBS Group lowered their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Citigroup boosted their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Sanford C. Bernstein lowered their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Morgan Stanley boosted their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $300.08 on Friday. The firm has a market cap of $55.90 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.51. L3Harris Technologies Inc has a 12-month low of $214.10 and a 12-month high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $349.03 and its two-hundred day simple moving average is $324.06.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior 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, equities analysts expect that L3Harris Technologies Inc will post 11.56 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insider Activity

In other news, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president directly owned 4,882 shares of the company’s stock, valued at approximately $1,666,958.90. This represents a 32.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,365 shares of company stock valued at $5,861,117. Insiders own 0.68% of the company’s stock.

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.