Jupiter Asset Management Ltd. Has $10.07 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Jupiter Asset Management boosted its stake in L3Harris Technologies by 146.6% in the fourth quarter, ending with 34,292 shares valued at about $10.07 million.
• L3Harris reported stronger-than-expected quarterly results, with EPS of $2.72 versus the $2.53 estimate and revenue of $5.74 billion, up 11.9% year over year. The company also reiterated FY 2026 guidance of $11.40 to $11.60 EPS.
• Analyst sentiment remains positive, with multiple firms raising targets and Truist upgrading the stock to strong-buy. The consensus rating is Moderate Buy with an average price target of $354.75.

Jupiter Asset Management Ltd. lifted its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 146.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,292 shares of the company's stock after purchasing an additional 20,385 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in L3Harris Technologies were worth $10,067,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Intech Investment Management LLC raised its stake in shares of L3Harris Technologies by 41.5% in the fourth quarter. Intech Investment Management LLC now owns 36,663 shares of the company's stock valued at $10,763,000 after purchasing an additional 10,757 shares in the last quarter. Baker Avenue Asset Management LP raised its position in L3Harris Technologies by 50.4% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,032 shares of the company's stock worth $303,000 after purchasing an additional 346 shares in the last quarter. IFG Advisory LLC raised its position in L3Harris Technologies by 45.5% in the fourth quarter. IFG Advisory LLC now owns 3,012 shares of the company's stock worth $884,000 after purchasing an additional 942 shares in the last quarter. Murphy & Mullick Capital Management Corp raised its position in L3Harris Technologies by 5.8% in the fourth quarter. Murphy & Mullick Capital Management Corp now owns 911 shares of the company's stock worth $267,000 after purchasing an additional 50 shares in the last quarter. Finally, Huntington National Bank raised its position in L3Harris Technologies by 12.4% in the fourth quarter. Huntington National Bank now owns 10,768 shares of the company's stock worth $3,161,000 after purchasing an additional 1,192 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

NYSE LHX opened at $314.98 on Friday. The firm 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. The company has a 50 day moving average of $331.41 and a 200-day moving average of $325.91. 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.

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 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 analyst estimates of $5.42 billion. During the same period last year, the company posted $2.41 earnings per share. The firm'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 analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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 is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

Analysts Set New Price Targets

Several research firms have issued reports on LHX. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Citigroup increased their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Wolfe Research reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Two 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the firm's stock in a transaction on 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 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 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 Samir Mehta sold 5,528 shares of the firm's 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 sale, the insider directly owned 7,756 shares of the company's stock, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,987 shares of company stock worth $5,049,149. 0.68% of the stock is owned by corporate insiders.

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.

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