L3Harris Technologies Inc $LHX Shares Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management sharply increased its L3Harris stake in the fourth quarter, boosting holdings by 895.2% to 25,756 shares worth about $7.56 million.
• Several insiders sold shares recently, including Samir Mehta and Melanie Rakita, and insiders have sold 16,365 shares total over the last three months.
• L3Harris reported better-than-expected earnings of $2.72 per share on revenue of $5.74 billion, and it also announced a quarterly $1.25 dividend payable June 26.

iA Global Asset Management Inc. increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 895.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,756 shares of the company's stock after acquiring an additional 23,168 shares during the period. iA Global Asset Management Inc.'s holdings in L3Harris Technologies were worth $7,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Caitlin John LLC acquired a new position in L3Harris Technologies during the 3rd quarter worth approximately $28,000. American National Bank & Trust lifted its position in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after acquiring an additional 30 shares in the last quarter. JPL Wealth Management LLC acquired a new position in L3Harris Technologies during the 3rd quarter worth approximately $29,000. Triumph Capital Management acquired a new position in L3Harris Technologies during the 3rd quarter worth approximately $31,000. Finally, GGM Financials LLC acquired a new position in L3Harris Technologies during the 3rd quarter worth approximately $32,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 7,756 shares in the company, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares of the company's stock, valued at $1,666,958.90. This trade represents a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 in the last three months. Corporate insiders own 0.68% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $303.56 on Monday. The business's 50 day moving average is $342.05 and its two-hundred day moving average is $324.61. L3Harris Technologies Inc has a 52-week low of $226.47 and a 52-week high of $379.23. The firm has a market cap of $56.55 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.53 and a beta of 0.51. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (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 analyst estimates of $5.42 billion. During the same period in the prior year, the company posted $2.41 EPS. L3Harris Technologies'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. Analysts forecast that L3Harris Technologies Inc will post 11.57 EPS 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. Shareholders 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 of this dividend is Friday, June 5th. L3Harris Technologies's dividend payout ratio is presently 54.29%.

Analysts Set New Price Targets

Several equities analysts recently commented on LHX shares. Citigroup boosted their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Weiss Ratings raised L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Argus raised L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the stock a "sector perform" rating in a research report on Friday, January 30th. Finally, UBS Group reduced 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average price target of $354.75.

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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