14,486 Shares in L3Harris Technologies Inc $LHX Purchased by Cvfg LLC

Key Points

• Cvfg LLC opened a new position in L3Harris Technologies during the first quarter, buying 14,486 shares worth about $5 million.
• Institutional ownership remains very high, with 84.76% of L3Harris stock held by hedge funds and other large investors; several other firms also recently increased their stakes.
• L3Harris posted solid quarterly results, beating estimates with $2.72 EPS and $5.74 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $354.75.

Cvfg LLC acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,486 shares of the company's stock, valued at approximately $5,000,000.

A number of other large investors also recently added to or reduced their stakes in the business. Allstate Corp raised its position in shares of L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after acquiring an additional 7,219 shares during the period. Jain Global LLC grew its holdings in L3Harris Technologies by 469.1% during the third quarter. Jain Global LLC now owns 45,861 shares of the company's stock valued at $14,006,000 after purchasing an additional 37,803 shares during the period. Whalen Wealth Management Inc. acquired a new position in L3Harris Technologies during the fourth quarter valued at approximately $907,000. Atria Investments Inc increased its stake in L3Harris Technologies by 77.9% in the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company's stock valued at $4,345,000 after purchasing an additional 6,482 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after purchasing an additional 190,955 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Finally, Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $294.91 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The business has a 50-day moving average of $304.83 and a 200-day moving average of $329.43. The stock has a market capitalization of $54.94 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.52 and a beta of 0.51. L3Harris Technologies Inc has a fifty-two week low of $254.12 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company 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 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 was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 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.

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