L3Harris Technologies Inc $LHX Shares Bought by Capital World Investors

Key Points

• Capital World Investors increased its L3Harris Technologies stake by 2.9% in Q4, buying 329,910 more shares and bringing its holdings to 11.65 million shares worth about $3.42 billion.
• L3Harris reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping forecasts; revenue rose 11.9% year over year.
• The company declared a quarterly dividend of $1.25 per share and has recently seen generally bullish analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $354.75.

Capital World Investors lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,645,419 shares of the company's stock after buying an additional 329,910 shares during the quarter. Capital World Investors owned approximately 6.23% of L3Harris Technologies worth $3,418,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after buying an additional 190,955 shares in the last quarter. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock worth $1,505,444,000 after buying an additional 106,430 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of L3Harris Technologies by 6.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company's stock worth $531,416,000 after buying an additional 110,423 shares in the last quarter. Bank of America Corp DE grew its position in shares of L3Harris Technologies by 3.1% during the second quarter. Bank of America Corp DE now owns 1,728,519 shares of the company's stock worth $433,582,000 after buying an additional 52,776 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company's stock worth $506,090,000 after buying an additional 312,846 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $307.99 on Friday. The business's fifty day moving average price is $326.90 and its 200 day moving average price is $326.35. L3Harris Technologies Inc has a 12-month low of $237.56 and a 12-month high of $379.23. The stock has a market capitalization of $57.37 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 1.56 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same period last year, the business posted $2.41 earnings per share. The firm'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. Equities research analysts forecast that L3Harris Technologies Inc will post 11.52 EPS 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 paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Weiss Ratings raised shares of L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Finally, UBS Group decreased their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $354.75.

Insider Transactions at L3Harris Technologies

In related 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 transaction of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company 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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