First Financial Bankshares Inc Raises Holdings in L3Harris Technologies Inc $LHX

Key Points

• First Financial Bankshares Inc. increased its L3Harris Technologies stake by 2.0% in the fourth quarter, ending with 169,952 shares valued at about $49.9 million.
• Analyst sentiment remains constructive: several firms upgraded the stock, and MarketBeat says L3Harris now has a Moderate Buy consensus with a $354.75 average target price.
• The company beat quarterly expectations, reporting $2.72 EPS on $5.74 billion in revenue, and it declared a $1.25 quarterly dividend payable June 26.

First Financial Bankshares Inc grew its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,952 shares of the company's stock after purchasing an additional 3,264 shares during the period. First Financial Bankshares Inc owned approximately 0.09% of L3Harris Technologies worth $49,893,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new stake in L3Harris Technologies during the fourth quarter valued at approximately $25,000. Caitlin John LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $28,000. American National Bank & Trust lifted its stake in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Argus raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. UBS Group lowered their price objective on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Sanford C. Bernstein lowered their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the firm'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 owned 4,192 shares of the company's stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Trading Up 3.0%

Shares of NYSE LHX opened at $312.01 on Friday. 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 business's 50 day moving average price is $323.86 and its 200-day moving average price is $327.27. L3Harris Technologies Inc has a fifty-two week low of $243.84 and a fifty-two week high of $379.23. The company has a market cap of $58.12 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 1.53 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share 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 firm 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 business posted $2.41 earnings per share. 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. On average, sell-side analysts expect 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. Stockholders of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's dividend payout ratio is presently 54.29%.

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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.