L3Harris Technologies Inc $LHX Position Lifted by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC boosted its L3Harris stake by 54.6% in the first quarter, ending with 20,091 shares valued at about $6.9 million.
• L3Harris reported stronger-than-expected quarterly results, posting $2.72 EPS and $5.74 billion in revenue, both ahead of analyst estimates, with revenue up 11.9% year over year.
• Analysts remain cautiously positive overall: the stock has a Moderate Buy consensus rating, while L3Harris also paid a quarterly dividend of $1.25 per share for a 1.8% annual yield.

Wealthfront Advisers LLC grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,091 shares of the company's stock after acquiring an additional 7,095 shares during the period. Wealthfront Advisers LLC's holdings in L3Harris Technologies were worth $6,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cedar Mountain Advisors LLC grew its stake in L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after purchasing an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in L3Harris Technologies in the fourth quarter valued at about $25,000. Tower View Wealth Management LLC acquired a new stake in L3Harris Technologies during the first quarter valued at approximately $29,000. Fideuram Asset Management Ireland dac acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $25,000. Finally, Motiv8 Investments LLC bought a new position in L3Harris Technologies during the 4th quarter worth approximately $25,000. Institutional investors own 84.76% of the company's stock.

Analyst Ratings Changes

LHX has been the subject of several research reports. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. UBS Group dropped their price target on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Sanford C. Bernstein lowered their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $354.75.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $282.22 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $301.05 and a two-hundred day moving average of $328.86. L3Harris Technologies Inc has a 52 week low of $260.22 and a 52 week high of $379.23. The company has a market cap of $52.58 billion, a P/E ratio of 30.64, a PEG ratio of 1.43 and a beta of 0.51.

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 the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion during 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%.The business's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.53 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 5th. L3Harris Technologies's dividend payout ratio is presently 54.29%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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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