Hsbc Holdings PLC Boosts Stock Position in L3Harris Technologies Inc $LHX

Key Points

• HSBC Holdings PLC increased its L3Harris Technologies stake by 1.4% in the fourth quarter, bringing its total to 344,308 shares valued at about $101.2 million.
• L3Harris reported better-than-expected Q1 results, with earnings of $2.72 per share on revenue of $5.74 billion, both above analyst estimates, and revenue rose 11.9% year over year.
• The defense contractor also paid a quarterly dividend of $1.25 per share and has a consensus analyst rating of Moderate Buy with a target price of $354.75.

Hsbc Holdings PLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,308 shares of the company's stock after acquiring an additional 4,640 shares during the period. Hsbc Holdings PLC owned approximately 0.18% of L3Harris Technologies worth $101,168,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC boosted its stake in L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company's stock worth $74,000 after purchasing an additional 29 shares during the period. Burns J W & Co. Inc. NY grew its holdings in L3Harris Technologies by 3.1% during the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock valued at $290,000 after buying an additional 30 shares in the last quarter. American National Bank & Trust increased its position in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after buying an additional 30 shares during the period. CYBER HORNET ETFs LLC lifted its holdings in shares of L3Harris Technologies by 5.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company's stock worth $161,000 after buying an additional 30 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its holdings in shares of L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock worth $253,000 after buying an additional 31 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Down 0.3%

Shares of NYSE LHX opened at $301.23 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $305.85 and a 200-day moving average of $328.90. The firm has a market capitalization of $56.12 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 1.53 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $250.02 and a 12 month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm posted $2.41 earnings per share. L3Harris Technologies's quarterly revenue was up 11.9% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

Insider Activity

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 completion of the transaction, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was 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. Corporate insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

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

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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