Focused Investors LLC Has $108.46 Million Stock Position in L3Harris Technologies Inc $LHX

Key Points

• Focused Investors LLC cut its stake in L3Harris Technologies by 28.1% in the first quarter, but still held 314,250 shares worth about $108.46 million as of its latest filing.
• L3Harris reported strong quarterly results, posting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion expected, with revenue up 11.9% year over year.
• The company also declared a quarterly dividend of $1.25 per share, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $354.75.

Focused Investors LLC lowered its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 28.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,250 shares of the company's stock after selling 122,950 shares during the quarter. L3Harris Technologies makes up 3.5% of Focused Investors LLC's investment portfolio, making the stock its 15th largest holding. Focused Investors LLC owned about 0.17% of L3Harris Technologies worth $108,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its holdings in shares of L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock worth $557,933,000 after buying an additional 1,207,334 shares during the period. Victory Capital Management Inc. raised its holdings in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company's stock valued at $360,964,000 after acquiring an additional 1,079,474 shares during the period. Two Sigma Investments LP raised its holdings in shares of L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock valued at $187,609,000 after acquiring an additional 521,312 shares during the period. Boston Partners lifted its position in shares of L3Harris Technologies by 27.6% in the 4th quarter. Boston Partners now owns 2,401,871 shares of the company's stock valued at $709,396,000 after acquiring an additional 519,226 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of L3Harris Technologies by 3,127.8% in the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company's stock valued at $119,994,000 after acquiring an additional 396,077 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $294.98 on Monday. The company's 50 day moving average price is $317.53 and its 200 day moving average price is $328.47. L3Harris Technologies Inc has a 52 week low of $243.84 and a 52 week high of $379.23. The company has a market capitalization of $54.95 billion, a PE ratio of 32.03, a PEG ratio of 1.49 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

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 for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the business earned $2.41 EPS. The company'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. Research analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LHX. Weiss Ratings upgraded shares of L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Argus upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. UBS Group lowered their price target 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, Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Company 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.

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.