Artisan Partners Limited Partnership Buys 1,207,334 Shares of L3Harris Technologies Inc $LHX

Key Points

• Artisan Partners significantly increased its L3Harris position in the fourth quarter, buying 1,207,334 additional shares and boosting its stake by 174.2% to 1,900,509 shares worth about $557.9 million.
• L3Harris reported solid quarterly results, with EPS of $2.72 and revenue of $5.74 billion, both ahead of estimates. Revenue rose 11.9% from a year earlier, and the company guided FY 2026 EPS to $11.40-$11.60.
• The company also announced a quarterly dividend of $1.25 per share, payable June 26, implying a $5.00 annualized dividend yield of 1.6%. Meanwhile, analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $354.75.

Artisan Partners Limited Partnership raised its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 174.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,900,509 shares of the company's stock after buying an additional 1,207,334 shares during the quarter. L3Harris Technologies comprises approximately 0.8% of Artisan Partners Limited Partnership's investment portfolio, making the stock its 29th biggest holding. Artisan Partners Limited Partnership owned 1.02% of L3Harris Technologies worth $557,933,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Korea Investment CORP lifted its stake in L3Harris Technologies by 11.2% in the third quarter. Korea Investment CORP now owns 153,567 shares of the company's stock valued at $46,901,000 after buying an additional 15,408 shares in the last quarter. Allstate Corp raised its holdings in shares of L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of L3Harris Technologies in the third quarter worth $1,203,000. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of L3Harris Technologies in the third quarter worth $72,446,000. Finally, Jain Global LLC lifted its position in shares of L3Harris Technologies by 469.1% in the third quarter. Jain Global LLC now owns 45,861 shares of the company's stock worth $14,006,000 after purchasing an additional 37,803 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Up 2.2%

LHX stock opened at $310.95 on Wednesday. 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 company's 50-day simple moving average is $320.96 and its 200 day simple moving average is $327.93. L3Harris Technologies Inc has a 52 week low of $243.84 and a 52 week high of $379.23. The company has a market capitalization of $57.93 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.54 and a beta of 0.50.

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, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the company posted $2.41 earnings per share. L3Harris Technologies's revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio is 54.29%.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the company's 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 transaction, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Weiss Ratings raised shares of L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. 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 report on Monday, May 4th. Finally, Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Two 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 company's stock. According to MarketBeat.com, the company 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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