L3Harris Technologies Inc $LHX Stock Holdings Lessened by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates cut its L3Harris Technologies stake by 44.8% in the fourth quarter, leaving it with 11,645 shares valued at about $3.4 million.
• Despite mixed institutional moves, analysts remain broadly positive: L3Harris has a consensus rating of “Moderate Buy” with an average price target of $354.75, and several firms recently upgraded or reiterated bullish ratings.
• The company reported better-than-expected quarterly results, with EPS of $2.72 and revenue of $5.74 billion, and it also declared a quarterly dividend of $1.25 per share, or $5.00 annualized.

Sit Investment Associates Inc. reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,645 shares of the company's stock after selling 9,445 shares during the period. Sit Investment Associates Inc.'s holdings in L3Harris Technologies were worth $3,419,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LHX. Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% in 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 in the last quarter. Jump Financial LLC grew its position in shares of L3Harris Technologies by 14.9% in the second 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 grew 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 buying an additional 2,130 shares during the last quarter. Nebula Research & Development LLC acquired a new position in L3Harris Technologies during the 2nd quarter valued at $856,000. Finally, CIBC Asset Management Inc raised its position in shares of L3Harris Technologies by 116.2% during the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock valued at $15,549,000 after buying an additional 33,321 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent research reports. Argus upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Sanford C. Bernstein cut their price target on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. UBS Group dropped their price objective 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. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $354.75.

L3Harris Technologies Stock Up 0.1%

Shares of L3Harris Technologies stock opened at $294.98 on Friday. The business has a 50-day moving average of $317.53 and a two-hundred day moving average of $328.08. L3Harris Technologies Inc has a 1 year low of $243.84 and a 1 year high of $379.23. 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 company has a market capitalization of $54.95 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The business's 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. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's dividend payout ratio (DPR) is currently 54.29%.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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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