L3Harris Technologies Inc $LHX Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its L3Harris Technologies stake by 41.5% in the fourth quarter, buying 10,757 more shares and bringing its total to 36,663 shares worth about $10.76 million.
• Several analysts remain positive on L3Harris (NYSE:LHX), with recent target-price hikes from firms like Morgan Stanley, Citigroup, and RBC. The stock currently carries an average rating of Moderate Buy and an average price target of $354.75.
• The company reported better-than-expected first-quarter results, posting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion, up 11.9% year over year. L3Harris also announced a quarterly dividend of $1.25 per share, payable June 26.

Intech Investment Management LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 41.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,663 shares of the company's stock after acquiring an additional 10,757 shares during the quarter. Intech Investment Management LLC's holdings in L3Harris Technologies were worth $10,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LHX. Brighton Jones LLC boosted its position in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares during the last quarter. Jump Financial LLC boosted its holdings in L3Harris Technologies by 14.9% in the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock valued at $751,000 after purchasing an additional 388 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock valued at $4,285,000 after purchasing an additional 2,130 shares during the last quarter. Nebula Research & Development LLC acquired a new position in L3Harris Technologies in the 2nd quarter valued at about $856,000. Finally, CIBC Asset Management Inc boosted its holdings in L3Harris Technologies by 116.2% in the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock valued at $15,549,000 after purchasing an additional 33,321 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Wolfe Research reiterated an "outperform" rating on shares of L3Harris Technologies in a report on Friday, January 30th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Citigroup boosted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a report on Thursday, February 5th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $354.75.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value 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 legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares of the company's stock, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,987 shares of company stock worth $5,049,149. Insiders own 0.68% of the company's stock.

L3Harris Technologies Stock Up 0.1%

L3Harris Technologies stock opened at $314.98 on Friday. L3Harris Technologies Inc has a fifty-two week low of $237.56 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 50 day moving average price of $331.41 and a 200 day moving average price of $325.91. The company has a market capitalization of $58.68 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 1.59 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 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the firm earned $2.41 EPS. 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. Research analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced 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 yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

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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