QRG Capital Management Inc. Raises Stock Position in L3Harris Technologies Inc $LHX

Key Points

• QRG Capital Management increased its stake in L3Harris Technologies by 24.8% in the first quarter, ending with 47,912 shares valued at about $16.5 million.
• L3Harris reported better-than-expected quarterly results, posting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion estimated, while raising FY 2026 EPS guidance to 11.4-11.6.
• The company continues to attract institutional interest, with 84.76% of shares held by hedge funds and institutions, and analysts maintaining a Moderate Buy consensus with a $354.75 price target.

QRG Capital Management Inc. lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 24.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,912 shares of the company's stock after buying an additional 9,515 shares during the period. QRG Capital Management Inc.'s holdings in L3Harris Technologies were worth $16,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Korea Investment CORP increased its holdings in shares of L3Harris Technologies by 11.2% in the third quarter. Korea Investment CORP now owns 153,567 shares of the company's stock valued at $46,901,000 after purchasing an additional 15,408 shares during the period. Allstate Corp raised its stake in shares of L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock worth $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of L3Harris Technologies during the third quarter worth $1,203,000. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of L3Harris Technologies during the third quarter worth $72,446,000. Finally, Jain Global LLC grew its position in L3Harris Technologies by 469.1% in the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company's stock valued at $14,006,000 after buying an additional 37,803 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

LHX stock opened at $301.23 on Friday. The stock's 50 day moving average price is $305.85 and its 200 day moving average price is $328.90. The firm has a market cap of $56.12 billion, a P/E ratio of 32.71, a PEG ratio of 1.53 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a 1 year low of $250.02 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to analysts' expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is 54.29%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Sanford C. Bernstein lowered their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. UBS Group cut their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Finally, Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business'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 completion of the transaction, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company's stock.

About L3Harris Technologies

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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