Keudell Morrison Wealth Management Acquires Shares of 4,600 L3Harris Technologies Inc $LHX

Key Points

• Keudell Morrison Wealth Management reported a new fourth-quarter stake in L3Harris Technologies, buying 4,600 shares worth about $1.35 million.
• L3Harris recently posted strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion rising 11.9% year over year.
• The stock has seen mixed signals from insiders and analysts: several analysts remain bullish with a Moderate Buy consensus, while insiders have sold shares recently and the company also announced a $1.25 quarterly dividend.

Keudell Morrison Wealth Management acquired a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,600 shares of the company's stock, valued at approximately $1,350,000.

Several other institutional investors also recently bought and sold shares of LHX. Caitlin John LLC acquired a new stake in L3Harris Technologies in the third quarter valued at approximately $28,000. American National Bank & Trust boosted its stake in shares of L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after acquiring an additional 30 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth approximately $29,000. Triumph Capital Management acquired a new stake in shares of L3Harris Technologies in the third quarter worth approximately $31,000. Finally, GGM Financials LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth approximately $32,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wolfe Research reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Morgan Stanley lifted their price target on L3Harris Technologies from $367.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. UBS Group lowered their price target 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. Citigroup lifted their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction 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 completion of the transaction, the vice president directly owned 4,192 shares of the company's stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of the business's stock in a transaction on 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 transaction, the insider directly owned 7,660 shares of the company's stock, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,365 shares of company stock worth $5,861,117. 0.68% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $306.42 on Friday. L3Harris Technologies Inc has a fifty-two week low of $232.73 and a fifty-two week high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The firm has a market capitalization of $57.08 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 1.56 and a beta of 0.51. The stock's fifty day moving average is $337.56 and its two-hundred day moving average is $325.14.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $2.72 EPS 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 for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The company's revenue for the quarter 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, research analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, June 5th. 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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.