L3Harris Technologies Inc $LHX Shares Bought by Boston Partners

Key Points

• Boston Partners increased its stake in L3Harris Technologies by 27.6% in the fourth quarter, ending with 2.4 million shares valued at about $709.4 million.
• L3Harris recently posted better-than-expected quarterly results, with EPS of $2.72 versus estimates of $2.53 and revenue of $5.74 billion, up 11.9% year over year.
• The company also declared a quarterly dividend of $1.25 per share and maintains a consensus Wall Street rating of Moderate Buy with an average target price of $354.75.

Boston Partners boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 27.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,401,871 shares of the company's stock after acquiring an additional 519,226 shares during the quarter. Boston Partners owned about 1.28% of L3Harris Technologies worth $709,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP boosted its holdings in L3Harris Technologies by 11.2% in the third 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 period. Allstate Corp boosted its holdings in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after purchasing an additional 7,219 shares during the period. Neo Ivy Capital Management purchased a new position in L3Harris Technologies in the third quarter valued at $1,203,000. Munich Reinsurance Co Stock Corp in Munich purchased a new position in L3Harris Technologies in the third quarter valued at $72,446,000. Finally, Jain Global LLC boosted its holdings in L3Harris Technologies by 469.1% in the third quarter. Jain Global LLC now owns 45,861 shares of the company's stock valued at $14,006,000 after purchasing an additional 37,803 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Weiss Ratings upgraded L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Argus upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $354.75.

L3Harris Technologies Stock Performance

LHX opened at $307.60 on Friday. The stock has a market cap of $57.30 billion, a P/E ratio of 33.40, a P/E/G ratio of 1.58 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The stock's 50 day simple moving average is $322.93 and its 200 day simple moving average is $327.13. L3Harris Technologies Inc has a 1-year low of $243.84 and a 1-year high of $379.23.

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, topping 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 business had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter in the prior year, the firm posted $2.41 EPS. The company's 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. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. 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 currently 54.29%.

Insider Buying and Selling at L3Harris Technologies

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 transaction of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate 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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