First Trust Advisors LP Has $116.17 Million Position in L3Harris Technologies Inc $LHX

Key Points

• First Trust Advisors LP trimmed its L3Harris Technologies stake by 1.5% in Q1, but still held 336,579 shares valued at about $116.17 million.
• L3Harris reported better-than-expected quarterly earnings, with EPS of $2.72 versus estimates of $2.53 and revenue of $5.74 billion, up 11.9% year over year.
• The company also announced a quarterly dividend of $1.25 per share, equal to an annualized payout of $5.00 and a yield of about 1.7%.

First Trust Advisors LP lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,579 shares of the company's stock after selling 5,088 shares during the quarter. First Trust Advisors LP owned 0.18% of L3Harris Technologies worth $116,170,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after acquiring an additional 190,955 shares in the last quarter. Capital World Investors raised its holdings in shares of L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after acquiring an additional 329,910 shares during the last quarter. State Street Corp lifted its position in L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after acquiring an additional 141,442 shares in the last quarter. Geode Capital Management LLC lifted its position in L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after acquiring an additional 106,430 shares in the last quarter. Finally, Morgan Stanley increased its holdings in L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock worth $974,072,000 after purchasing an additional 124,797 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

Analyst Ratings Changes

LHX has been the subject of several analyst reports. Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. UBS Group cut their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. 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 cut their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $354.75.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $299.83 on Friday. The business's fifty day simple moving average is $299.43 and its 200 day simple moving average is $328.78. The firm has a market capitalization of $55.86 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $262.98 and a 12 month high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced 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. 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 during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the company earned $2.41 EPS. The business'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, analysts anticipate that L3Harris Technologies Inc will post 11.54 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies's payout ratio is currently 54.29%.

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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