L3Harris Technologies Inc $LHX Stock Position Raised by O Shaughnessy Asset Management LLC

Key Points

• O Shaughnessy Asset Management increased its L3Harris Technologies stake by 13.2% in the fourth quarter, bringing its holdings to 65,957 shares valued at about $19.4 million.
• L3Harris reported strong quarterly results, with EPS of $2.72 and revenue of $5.74 billion, both ahead of expectations; revenue rose 11.9% year over year.
• The company declared a quarterly dividend of $1.25 per share, equal to a $5.00 annualized payout and a 1.7% yield, while analysts maintain a consensus Moderate Buy rating with a $354.75 price target.

O Shaughnessy Asset Management LLC boosted its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,957 shares of the company's stock after purchasing an additional 7,675 shares during the period. O Shaughnessy Asset Management LLC's holdings in L3Harris Technologies were worth $19,363,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its position in shares of L3Harris Technologies by 12.9% in the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company's stock worth $74,000 after buying an additional 29 shares during the period. Burns J W & Co. Inc. NY lifted its stake in L3Harris Technologies by 3.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock worth $290,000 after acquiring an additional 30 shares in the last quarter. American National Bank & Trust boosted its position in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after acquiring an additional 30 shares during the period. CYBER HORNET ETFs LLC boosted its position in L3Harris Technologies by 5.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company's stock worth $161,000 after acquiring an additional 30 shares during the period. Finally, Turtle Creek Wealth Advisors LLC grew its stake in L3Harris Technologies by 3.7% during the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock valued at $253,000 after acquiring an additional 31 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business's 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $301.82 on Tuesday. 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 market cap of $56.23 billion, a PE ratio of 32.77, a PEG ratio of 1.56 and a beta of 0.50. The firm's 50 day moving average price is $325.94 and its 200 day moving average price is $326.73. L3Harris Technologies Inc has a twelve month low of $237.56 and a twelve month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 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 analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. L3Harris Technologies's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, research analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's dividend payout ratio is presently 54.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Sanford C. Bernstein decreased their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. UBS Group lowered their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Finally, Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

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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