L3Harris Technologies Inc $LHX Stake Increased by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund boosted its L3Harris Technologies stake by 3,062.4% in the first quarter, ending with 233,831 shares worth about $80.7 million.
• L3Harris reported better-than-expected Q1 results, with earnings per share of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion expected, while revenue rose 11.9% year over year.
• The company declared a quarterly dividend of $1.25 per share, payable Sept. 18, which annualizes to $5.00 per share and yields about 1.7%.

Healthcare of Ontario Pension Plan Trust Fund raised its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 3,062.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 233,831 shares of the company's stock after purchasing an additional 226,437 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.13% of L3Harris Technologies worth $80,707,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies 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 approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. UBS Group decreased their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Sanford C. Bernstein lowered their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $361.70.

L3Harris Technologies Trading Up 0.1%

NYSE:LHX opened at $300.08 on Friday. The stock has a market cap of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a 1 year low of $262.98 and a 1 year high of $379.23. The business has a fifty day moving average of $299.36 and a 200-day moving average of $328.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.54 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies's payout ratio is presently 54.29%.

About L3Harris Technologies

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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