Deprince Race & Zollo Inc. Purchases 6,122 Shares of L3Harris Technologies Inc $LHX

Key Points

• Deprince Race & Zollo Inc. boosted its L3Harris Technologies stake by 5.1% in the first quarter, buying 6,122 additional shares and bringing its total holdings to 126,047 shares worth about $43.5 million.
• L3Harris reported stronger-than-expected quarterly results, with EPS of $2.72 and revenue of $5.74 billion, both above analyst estimates, while revenue rose 11.9% year over year.
• The company also paid a quarterly dividend of $1.25 per share and continues to draw mostly positive analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $354.75.

Deprince Race & Zollo Inc. increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,047 shares of the company's stock after purchasing an additional 6,122 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.07% of L3Harris Technologies worth $43,505,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LHX. Allstate Corp increased its stake in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock worth $4,106,000 after purchasing an additional 7,219 shares during the period. Korea Investment CORP boosted its stake in shares of L3Harris Technologies by 11.2% during the third quarter. Korea Investment CORP now owns 153,567 shares of the company's stock valued at $46,901,000 after purchasing an additional 15,408 shares during the period. Neo Ivy Capital Management bought a new position in shares of L3Harris Technologies in the third quarter worth about $1,203,000. Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of L3Harris Technologies in the third quarter worth about $72,446,000. Finally, Jain Global LLC increased its stake in L3Harris Technologies by 469.1% in the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company's stock worth $14,006,000 after buying an additional 37,803 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction on Tuesday, May 5th. The stock was 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 trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

L3Harris Technologies Trading Up 0.6%

NYSE:LHX opened at $292.29 on Thursday. L3Harris Technologies Inc has a one year low of $249.11 and a one 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 firm has a market cap of $54.45 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.47 and a beta of 0.51. The firm has a 50-day simple moving average of $307.25 and a 200-day simple moving average of $328.99.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

Wall Street Analyst Weigh In

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