Sanctuary Advisors LLC Purchases 4,202 Shares of L3Harris Technologies Inc $LHX

Key Points

• Sanctuary Advisors LLC increased its stake in L3Harris Technologies by 11.4% in the first quarter, buying 4,202 additional shares and bringing its total to 41,145 shares worth about $14.2 million.
• Wall Street sentiment is mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $354.75. Recent actions included upgrades from Wall Street Zen and Truist, while UBS cut its target price and kept a neutral rating.
• L3Harris reported stronger-than-expected quarterly results, posting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion expected. The company also paid a quarterly dividend of $1.25 per share, or $5.00 annualized, for a 1.8% yield.

Sanctuary Advisors LLC grew its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,145 shares of the company's stock after buying an additional 4,202 shares during the quarter. Sanctuary Advisors LLC's holdings in L3Harris Technologies were worth $14,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LHX. Allstate Corp raised its stake in L3Harris Technologies by 106.7% during the 4th quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after buying an additional 7,219 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $907,000. Atria Investments Inc boosted its holdings in shares of L3Harris Technologies by 77.9% in the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company's stock worth $4,345,000 after buying an additional 6,482 shares during the last quarter. Vanguard Group Inc. grew its position in L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after buying an additional 190,955 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in L3Harris Technologies by 23.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company's stock valued at $64,920,000 after buying an additional 41,414 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction dated 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. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

LHX opened at $284.19 on Friday. The company has a 50 day simple moving average of $301.41 and a two-hundred day simple moving average of $329.19. 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 firm has a market cap of $52.94 billion, a P/E ratio of 30.86, a PEG ratio of 1.45 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $260.22 and a 1-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 EPS 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 firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm earned $2.41 EPS. The company'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. Equities analysts forecast that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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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