Jefferies Financial Group Inc. Has $453,000 Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Jefferies Financial Group slashed its stake in L3Harris Technologies by 84.9% in the fourth quarter, ending with 1,542 shares worth about $453,000.
• L3Harris reported strong quarterly results, with earnings of $2.72 per share topping estimates and revenue of $5.74 billion beating expectations; revenue also rose 11.9% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $354.75, while the company also announced a quarterly dividend of $1.25 per share.

Jefferies Financial Group Inc. decreased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 84.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,542 shares of the company's stock after selling 8,641 shares during the quarter. Jefferies Financial Group Inc.'s holdings in L3Harris Technologies were worth $453,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LHX. Korea Investment CORP lifted its stake in L3Harris Technologies by 11.2% in the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company's stock valued at $46,901,000 after purchasing an additional 15,408 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in L3Harris Technologies by 13.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company's stock valued at $9,230,000 after purchasing an additional 3,532 shares during the last quarter. Crystal Rock Capital Management acquired a new stake in L3Harris Technologies in the 3rd quarter valued at about $1,993,000. Neo Ivy Capital Management acquired a new stake in L3Harris Technologies during the third quarter worth approximately $1,203,000. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in L3Harris Technologies during the third quarter worth approximately $72,446,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LHX shares. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Finally, Morgan Stanley raised their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, February 2nd. Two 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Stock Up 0.1%

NYSE LHX opened at $314.98 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. L3Harris Technologies Inc has a 1-year low of $237.56 and a 1-year high of $379.23. The company has a 50 day moving average of $331.41 and a 200-day moving average of $325.91. The company has a market cap of $58.68 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 1.59 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly 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 company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the business earned $2.41 earnings per share. The firm'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. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred 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 transaction, the vice president directly owned 4,192 shares of the company's stock, valued at $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 SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,987 shares of company stock valued at $5,049,149 over the last three months. 0.68% of the stock is owned by insiders.

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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