ING Groep NV Boosts Holdings in L3Harris Technologies Inc $LHX

Key Points

• ING Groep NV increased its stake in L3Harris Technologies by 15.7% in the fourth quarter, adding 3,787 shares to bring its total to 27,974 shares worth about $8.2 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 84.76% of L3Harris stock. Several firms recently made large moves, including Victory Capital Management and M&T Bank Corp boosting their positions significantly.
• L3Harris posted stronger-than-expected quarterly results, reporting $2.72 EPS on revenue of $5.74 billion, both above estimates, while also announcing a quarterly dividend of $1.25 per share.

ING Groep NV raised its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,974 shares of the company's stock after buying an additional 3,787 shares during the quarter. ING Groep NV's holdings in L3Harris Technologies were worth $8,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHX. Victory Capital Management Inc. grew its holdings in L3Harris Technologies by 1,053.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company's stock valued at $360,964,000 after buying an additional 1,079,474 shares during the period. Artisan Partners Limited Partnership purchased a new stake in L3Harris Technologies in the 3rd quarter valued at about $211,703,000. Two Sigma Investments LP grew its holdings in L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock valued at $187,609,000 after buying an additional 521,312 shares during the period. M&T Bank Corp lifted its stake 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 purchasing an additional 396,077 shares in the last quarter. Finally, Capital World Investors lifted its stake 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 valued at $3,418,747,000 after purchasing an additional 329,910 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Argus raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. UBS Group reduced their price objective on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Weiss Ratings raised L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Stock Performance

NYSE LHX opened at $307.99 on Monday. The business's 50-day simple moving average is $326.90 and its 200-day simple moving average is $326.62. The firm has a market capitalization of $57.38 billion, a P/E ratio of 33.44, a P/E/G ratio of 1.56 and a beta of 0.50. 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 Inc has a 1-year low of $237.56 and a 1-year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.6%. L3Harris Technologies's payout ratio is 54.29%.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction that occurred 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 transaction, the vice president directly owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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.

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.

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