Arrowstreet Capital Limited Partnership lowered its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 19.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 551,821 shares of the company's stock after selling 136,951 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.30% of L3Harris Technologies worth $190,461,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. Capital World Investors grew its stake in shares of L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after acquiring an additional 329,910 shares in the last quarter. State Street Corp raised its position in L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Geode Capital Management LLC grew its holdings in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock worth $1,505,444,000 after acquiring an additional 106,430 shares in the last quarter. Finally, Morgan Stanley raised its stake in L3Harris Technologies by 3.9% in the fourth quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock valued at $974,072,000 after buying an additional 124,797 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.
L3Harris Technologies Stock Performance
LHX stock opened at $300.08 on Friday. L3Harris Technologies Inc has a 1 year low of $262.98 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The stock has a market capitalization of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.52 and a beta of 0.51. The stock's fifty day moving average is $299.36 and its two-hundred day moving average is $328.58.
L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion during 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 was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.54 EPS for the current year.
L3Harris Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 54.29%.
Insider Buying and Selling
In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Sanford C. Bernstein decreased their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Finally, UBS Group reduced their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $361.70.
View Our Latest Stock Analysis on L3Harris Technologies
L3Harris Technologies Company Profile
(
Free Report)
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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