Rockefeller Capital Management L.P. Has $157.65 Million Holdings in L3Harris Technologies Inc $LHX

Key Points

• Rockefeller Capital Management L.P. increased its L3Harris Technologies stake by 45.6% in the fourth quarter, ending with 536,997 shares valued at about $157.65 million.
• L3Harris posted strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping expectations; revenue also rose 11.9% year over year.
• The company announced a quarterly dividend of $1.25 per share, equal to $5.00 annually and a yield of about 1.7%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $354.75.

Rockefeller Capital Management L.P. lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 536,997 shares of the company's stock after acquiring an additional 168,097 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.29% of L3Harris Technologies worth $157,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after purchasing an additional 3,001 shares during the period. Jump Financial LLC increased its holdings in L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock worth $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock valued at $4,285,000 after purchasing an additional 2,130 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $856,000. Finally, CIBC Asset Management Inc lifted its holdings in shares of L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock valued at $15,549,000 after purchasing an additional 33,321 shares in the last quarter. 84.76% of the stock is currently 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 that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Up 0.1%

L3Harris Technologies stock opened at $294.98 on Friday. The firm has a 50-day moving average of $317.53 and a 200-day moving average of $328.08. L3Harris Technologies Inc has a one year low of $243.84 and a one year high of $379.23. 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 company has a market cap of $54.95 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 1.49 and a beta of 0.50.

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. 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%.L3Harris Technologies's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's dividend payout ratio (DPR) is currently 54.29%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LHX shares. Argus raised L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Sanford C. Bernstein dropped 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. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Weiss Ratings raised L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. 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 data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $354.75.

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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