Adams Diversified Equity Fund Inc. Has $19.20 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Adams Diversified Equity Fund increased its stake in L3Harris Technologies by 55.3% in the fourth quarter, bringing its holdings to 65,400 shares valued at about $19.2 million.
• L3Harris reported better-than-expected quarterly results, with earnings of $2.72 per share and revenue of $5.74 billion, both ahead of analyst estimates. The company also raised its FY 2026 guidance to 11.40-11.60 EPS.
• The company declared a quarterly dividend of $1.25 per share, equal to a 1.6% yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $354.75.

Adams Diversified Equity Fund Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 55.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 65,400 shares of the company's stock after acquiring an additional 23,300 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in L3Harris Technologies were worth $19,199,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in L3Harris Technologies by 3.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 688,772 shares of the company's stock valued at $202,203,000 after purchasing an additional 24,243 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 5.3% during the fourth quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the company's stock worth $711,000 after buying an additional 123 shares during the last quarter. FORA Capital LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $437,000. Kestra Advisory Services LLC raised its stake in shares of L3Harris Technologies by 24.6% during the fourth quarter. Kestra Advisory Services LLC now owns 21,345 shares of the company's stock worth $6,266,000 after buying an additional 4,219 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of L3Harris Technologies by 12.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 809 shares of the company's stock worth $237,000 after buying an additional 91 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Price Performance

NYSE:LHX opened at $307.60 on Friday. L3Harris Technologies Inc has a 52 week low of $243.84 and a 52 week high of $379.23. The firm has a market cap of $57.30 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 1.56 and a beta of 0.50. The firm's 50-day simple moving average is $322.93 and its 200 day simple moving average is $327.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 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 for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm 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 year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is presently 54.29%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LHX. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating 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 report on Saturday, April 11th. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Sanford C. Bernstein cut 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, May 4th. Finally, UBS Group cut 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. Two 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

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.

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