L3Harris Technologies Inc $LHX Position Raised by Capital World Investors

Capital World Investors raised its stake in L3Harris Technologies Inc (NYSE:LHX) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,645,419 shares of the company’s stock after buying an additional 329,910 shares during the quarter. Capital World Investors owned 0.06% of L3Harris Technologies worth $3,418,747,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies in the fourth quarter valued at $25,000. Caitlin John LLC bought a new stake in L3Harris Technologies in the third quarter valued at $28,000. JPL Wealth Management LLC bought a new stake in L3Harris Technologies in the third quarter valued at $29,000. American National Bank & Trust raised its stake in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $30,000. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LHX. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. UBS Group cut their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $354.75.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

NYSE:LHX opened at $307.99 on Friday. The business’s 50-day moving average price is $326.90 and its 200 day moving average price is $326.35. The firm has a market cap of $57.37 billion, a P/E ratio of 33.44, a PEG ratio of 1.56 and a beta of 0.50. L3Harris Technologies Inc has a 52-week low of $237.56 and a 52-week 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.

L3Harris Technologies (NYSE:LHX) last released 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 firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $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 predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. 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.