AIA Group Ltd Has $13.22 Million Stock Position in L3Harris Technologies Inc $LHX

Key Points

• AIA Group Ltd boosted its stake in L3Harris Technologies by 162.8% in the first quarter, ending with 38,318 shares valued at about $13.22 million.
• L3Harris reported better-than-expected quarterly results, posting EPS of $2.72 versus estimates of $2.53 and revenue of $5.74 billion, which also marked 11.9% year-over-year growth.
• The company paid a $1.25 quarterly dividend and reiterated a full-year outlook, while analysts currently rate the stock Moderate Buy with an average price target of $354.75.

AIA Group Ltd increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 162.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,318 shares of the company's stock after buying an additional 23,735 shares during the quarter. AIA Group Ltd's holdings in L3Harris Technologies were worth $13,225,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its position in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $25,000. Tower View Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at $29,000. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies during the fourth quarter valued at approximately $25,000. Finally, Motiv8 Investments LLC purchased a new stake in L3Harris Technologies during the fourth quarter valued at about $25,000. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $282.22 on Friday. L3Harris Technologies Inc has a 12-month low of $260.22 and a 12-month high of $379.23. The firm has a market capitalization of $52.58 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 1.43 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. The firm has a 50 day moving average of $301.05 and a 200 day moving average of $328.86.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.8%. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated 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 transaction, the vice president owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

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

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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