MUFG Securities EMEA plc Buys 4,098 Shares of L3Harris Technologies Inc $LHX

Key Points

• MUFG Securities EMEA plc boosted its L3Harris Technologies stake by 114.4% in the fourth quarter, buying 4,098 more shares to bring its total to 7,679 shares worth about $2.25 million.
• L3Harris reported stronger-than-expected quarterly results, posting EPS of $2.72 versus estimates of $2.53 and revenue of $5.74 billion versus expectations of $5.42 billion; revenue rose 11.9% year over year.
• Analyst sentiment remains positive, with multiple upgrades and a consensus rating of “Moderate Buy,” while the company also announced a quarterly dividend of $1.25 per share payable on June 26.

MUFG Securities EMEA plc grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 114.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,679 shares of the company's stock after buying an additional 4,098 shares during the period. MUFG Securities EMEA plc's holdings in L3Harris Technologies were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Burns J W & Co. Inc. NY raised its position in shares of L3Harris Technologies by 3.1% during the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock valued at $290,000 after buying an additional 30 shares during the last quarter. American National Bank & Trust raised its position in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after buying an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC increased its position in 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 purchasing an additional 30 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its position in L3Harris Technologies by 3.7% in 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 during the last quarter. Finally, Rainier Family Wealth Inc. increased its position in L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company's stock worth $205,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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 transaction of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company's stock.

Analyst Ratings Changes

LHX has been the topic of several research reports. Weiss Ratings upgraded shares of L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. Two investment 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 company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Trading Down 1.6%

LHX stock opened at $310.01 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a twelve month low of $237.56 and a twelve month high of $379.23. The stock has a market capitalization of $57.75 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51. The firm's fifty day simple moving average is $330.34 and its two-hundred day simple moving average is $326.17.

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, beating analysts' consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analysts' expectations 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 business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's payout ratio is currently 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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