L3Harris Technologies Inc $LHX Stock Holdings Lifted by Fisher Asset Management LLC

Key Points

• Fisher Asset Management boosted its L3Harris Technologies stake by 156.1% in the fourth quarter, ending with 7,071 shares valued at about $2.1 million.
• Insider selling picked up recently, with executives Jon Rambeau and Samir Mehta each selling 5,528 shares on March 2; insiders sold 13,987 shares worth about $5.0 million over the last 90 days.
• L3Harris beat earnings and revenue estimates in its latest quarter, while analysts remain generally positive with a consensus “Moderate Buy” rating and an average price target of $354.75.

Fisher Asset Management LLC raised its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 156.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,071 shares of the company's stock after purchasing an additional 4,310 shares during the quarter. Fisher Asset Management LLC's holdings in L3Harris Technologies were worth $2,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitlin John LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $28,000. JPL Wealth Management LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $29,000. American National Bank & Trust grew its stake in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in L3Harris Technologies in the fourth quarter valued at about $30,000. Finally, Triumph Capital Management purchased a new position in L3Harris Technologies in the third quarter valued at about $31,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was 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 7,660 shares of the company's stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was 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. The trade was a 41.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,987 shares of company stock valued at $5,049,149. Corporate insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on LHX shares. Argus upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Royal Bank Of Canada upped their price target on L3Harris Technologies from $360.00 to $365.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their price target on L3Harris Technologies from $340.00 to $395.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. 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 stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $354.75.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $314.98 on Friday. The firm's 50-day moving average is $331.41 and its 200-day moving average is $325.91. L3Harris Technologies Inc has a 52-week low of $237.56 and a 52-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 company has a market cap of $58.68 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 1.59 and a beta of 0.51.

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 (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion for 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 business's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.6%. L3Harris Technologies's dividend payout ratio 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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