Legal & General Group Plc Has $329.08 Million Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Legal & General Group Plc boosted its stake in L3Harris Technologies by 0.8% in the fourth quarter, ending with 1,120,962 shares valued at about $329.1 million.
• L3Harris reported better-than-expected quarterly results, with EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion, up 11.9% year over year.
• The company also declared a quarterly dividend of $1.25 per share, payable June 26, which annualizes to $5.00 per share and a yield of 1.6%.

Legal & General Group Plc increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,120,962 shares of the company's stock after buying an additional 8,414 shares during the quarter. Legal & General Group Plc owned 0.60% of L3Harris Technologies worth $329,081,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $28,000. American National Bank & Trust grew its position in L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after buying an additional 30 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $29,000. Lloyd Advisory Services LLC. acquired a new stake in L3Harris Technologies during the fourth quarter worth about $30,000. Finally, Triumph Capital Management acquired a new stake in L3Harris Technologies during the third quarter worth about $31,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on LHX. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. Argus raised L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Citigroup lifted their target price on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Finally, UBS Group decreased their price objective on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average price target of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,378 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the sale, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. The trade was a 32.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,660 shares of the company's stock, valued at $2,836,651.20. The trade was a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,365 shares of company stock worth $5,861,117 in the last quarter. Insiders own 0.68% of the company's stock.

L3Harris Technologies Stock Up 0.5%

Shares of LHX opened at $313.55 on Wednesday. The company has a market capitalization of $58.41 billion, a P/E ratio of 34.04, a PEG ratio of 1.58 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a one year low of $237.56 and a one year high of $379.23. The business's 50 day simple moving average is $334.71 and its 200-day simple moving average is $325.65.

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. 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 analysts' expectations of $5.42 billion. During the same quarter in the previous year, the company posted $2.41 EPS. L3Harris Technologies'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, sell-side analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's 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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