IFP Advisors Inc Has $2.13 Million Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• IFP Advisors Inc increased its stake in L3Harris Technologies by 81.2% in the fourth quarter, buying 3,247 more shares and bringing its total holdings to 7,244 shares worth about $2.13 million.
• Insider selling continued, with VP Melanie Rakita and insider Samir Mehta both reducing their positions; insiders sold 16,365 shares worth about $5.86 million over the last quarter.
• L3Harris beat Wall Street expectations in its latest quarter, posting earnings per share of $2.72 on revenue of $5.74 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $354.75.

IFP Advisors Inc lifted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 81.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,244 shares of the company's stock after buying an additional 3,247 shares during the period. IFP Advisors Inc's holdings in L3Harris Technologies were worth $2,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Caitlin John LLC acquired a new stake in L3Harris Technologies during the third quarter valued at $28,000. JPL Wealth Management LLC acquired a new stake in L3Harris Technologies during the third quarter valued at $29,000. American National Bank & Trust boosted its position in 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 purchasing an additional 30 shares during the last quarter. Triumph Capital Management acquired a new stake in L3Harris Technologies during the third quarter valued at $31,000. Finally, GGM Financials LLC acquired a new stake in L3Harris Technologies during the third quarter valued at $32,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samir Mehta sold 5,528 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company's stock, valued at $2,872,201.92. This represents a 41.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,365 shares of company stock valued at $5,861,117 over the last quarter. Insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LHX. UBS Group reduced their price objective on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. Wolfe Research reissued an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Finally, Argus raised L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $312.12 on Friday. L3Harris Technologies Inc has a fifty-two week low of $235.72 and a fifty-two week high of $379.23. The business has a 50-day moving average of $336.51 and a two-hundred day moving average of $325.05. The stock has a market capitalization of $58.15 billion, a P/E ratio of 33.89, a P/E/G ratio of 1.55 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping 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 company had revenue of $5.74 billion during the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The business's quarterly revenue 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. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given 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 1.6%. 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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