Axxcess Wealth Management LLC Purchases 15,015 Shares of L3Harris Technologies Inc $LHX

Key Points

• Axxcess Wealth Management LLC increased its L3Harris Technologies stake by 146.6% in the fourth quarter, adding 15,015 shares to bring its total holdings to 25,254 shares valued at about $7.4 million.
• L3Harris reported strong quarterly results, with EPS of $2.72 and revenue of $5.74 billion, both beating analyst expectations and marking 11.9% year-over-year revenue growth.
• The company declared a quarterly dividend of $1.25 per share payable June 26, while analysts currently rate the stock a Moderate Buy with an average price target of $354.75.

Axxcess Wealth Management LLC raised its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 146.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,254 shares of the company's stock after acquiring an additional 15,015 shares during the period. Axxcess Wealth Management LLC's holdings in L3Harris Technologies were worth $7,413,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC raised its stake in shares of L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock worth $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of L3Harris Technologies by 14.2% during the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock worth $4,285,000 after purchasing an additional 2,130 shares in the last quarter. Nebula Research & Development LLC bought a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $856,000. Finally, CIBC Asset Management Inc raised its stake in shares of L3Harris Technologies by 116.2% during the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after purchasing an additional 33,321 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Up 1.9%

LHX stock opened at $312.12 on Friday. 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 market capitalization of $58.15 billion, a PE ratio of 33.89, a PEG ratio of 1.58 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $235.72 and a 1-year high of $379.23. The business's 50 day simple moving average is $336.51 and its 200 day simple moving average is $325.05.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the firm posted $2.41 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, research analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's dividend payout ratio is currently 54.29%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,660 shares of the company's stock, valued at $2,836,651.20. This represents a 41.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the transaction, the vice president directly owned 4,882 shares in the company, valued at approximately $1,666,958.90. This represents a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 in the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LHX shares. Citigroup upped their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Wolfe Research reissued an "outperform" rating on shares of L3Harris Technologies in a report on Friday, January 30th. Finally, UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, 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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