Bessemer Group Inc. Buys 4,081 Shares of L3Harris Technologies Inc $LHX

Key Points

• Bessemer Group Inc. increased its stake in L3Harris Technologies by 0.7% in the first quarter, buying 4,081 additional shares and bringing its total holding to 570,007 shares worth about $196.7 million.
• Wall Street sentiment on L3Harris remains positive overall, with analysts assigning an average “Moderate Buy” rating and a consensus price target of $354.75.
• L3Harris recently beat quarterly expectations, reporting $2.72 EPS on $5.74 billion in revenue, while also paying a quarterly dividend of $1.25 per share for a 1.8% annualized yield.

Bessemer Group Inc. lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 570,007 shares of the company's stock after purchasing an additional 4,081 shares during the period. Bessemer Group Inc. owned 0.31% of L3Harris Technologies worth $196,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC lifted its holdings in L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after buying an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $25,000. Tower View Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the 1st quarter valued at approximately $29,000. Fideuram Asset Management Ireland dac bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Finally, Motiv8 Investments LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. 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. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. UBS Group decreased their target price 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. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $354.75.

L3Harris Technologies Trading Down 0.9%

Shares of NYSE:LHX opened at $284.19 on Friday. The company has a market cap of $52.94 billion, a P/E ratio of 30.86, a PEG ratio of 1.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 1 year low of $260.22 and a 1 year high of $379.23. The stock's fifty day moving average price is $301.41 and its 200-day moving average price is $329.19.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Insiders Place Their Bets

In related 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 value of $676,781.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by company insiders.

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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