Burney Co. Decreases Stake in L3Harris Technologies Inc $LHX

Burney Co. lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,396 shares of the company's stock after selling 5,721 shares during the quarter. L3Harris Technologies accounts for about 0.5% of Burney Co.'s investment portfolio, making the stock its 29th largest holding. Burney Co.'s holdings in L3Harris Technologies were worth $16,704,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LHX. Dumont & Blake Investment Advisors LLC acquired a new stake in shares of L3Harris Technologies in the first quarter worth $201,000. PUREfi Wealth LLC acquired a new stake in L3Harris Technologies in the 1st quarter valued at $205,000. Collaborative Fund Advisors LLC purchased a new position in L3Harris Technologies in the first quarter valued at about $552,000. Kathmere Capital Management LLC lifted its stake in shares of L3Harris Technologies by 34.1% during the first quarter. Kathmere Capital Management LLC now owns 2,964 shares of the company's stock worth $1,023,000 after purchasing an additional 754 shares in the last quarter. Finally, Abel Hall LLC acquired a new position in shares of L3Harris Technologies during the first quarter worth about $249,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Sanford C. Bernstein reduced their price target on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. UBS Group decreased their price target on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Finally, Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $301.50 on Tuesday. L3Harris Technologies Inc has a fifty-two week low of $250.02 and a fifty-two week high of $379.23. The business has a 50 day moving average price of $305.85 and a two-hundred day moving average price of $329.18. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $56.17 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the business earned $2.41 EPS. L3Harris Technologies's revenue for the quarter 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. Sell-side analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies's payout ratio is 54.29%.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the company's stock in a transaction 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 directly owned 4,192 shares of the company's stock, valued at $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. 0.68% of the stock is owned by corporate insiders.

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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