Mediolanum International Funds Ltd Acquires 40,883 Shares of L3Harris Technologies Inc $LHX

Key Points

• Mediolanum International Funds Ltd increased its L3Harris Technologies stake by 56.1% in the first quarter, buying 40,883 additional shares and bringing its total holdings to 113,709 shares valued at about $38.7 million.
• L3Harris reported solid quarterly results, with earnings of $2.72 per share versus the $2.53 estimate and revenue of $5.74 billion, up 11.9% from a year earlier.
• The company also paid a quarterly dividend of $1.25 per share and maintained a 1.8% annualized yield, while analysts currently rate the stock a “Moderate Buy” with an average price target of $354.75.

Mediolanum International Funds Ltd grew its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 56.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,709 shares of the company's stock after purchasing an additional 40,883 shares during the quarter. Mediolanum International Funds Ltd owned about 0.06% of L3Harris Technologies worth $38,653,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. REAP Financial Group LLC lifted its position in L3Harris Technologies by 12.9% during the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company's stock worth $74,000 after buying an additional 29 shares in the last quarter. Burns J W & Co. Inc. NY increased its position 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 valued at $290,000 after acquiring an additional 30 shares in the last quarter. American National Bank & Trust raised its stake in shares of L3Harris Technologies by 44.8% in the fourth 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 last quarter. CYBER HORNET ETFs LLC raised its stake in shares of L3Harris Technologies by 5.8% in the fourth 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 last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its position in shares of L3Harris Technologies by 3.7% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock worth $253,000 after purchasing an additional 31 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Down 0.8%

Shares of NYSE:LHX opened at $282.22 on Friday. 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 stock has a market cap of $52.58 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a 50 day moving average of $301.05 and a 200-day moving average of $328.86. L3Harris Technologies Inc has a one year low of $260.22 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating 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 business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the business posted $2.41 earnings per share. L3Harris Technologies's revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, sell-side analysts forecast that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio is 54.29%.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LHX. UBS Group lowered their price target 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. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein lowered their target price on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average target price of $354.75.

L3Harris Technologies Company 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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