Sei Investments Co. Has $230.06 Million Stake in L3Harris Technologies Inc $LHX

Key Points

• Sei Investments Co. increased its L3Harris Technologies stake by 11.3% in the first quarter, bringing its holdings to 666,545 shares worth about $230.1 million.
• L3Harris recently reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping expectations; revenue rose 11.9% year over year.
• Analyst sentiment remains positive overall despite some target cuts, with a consensus rating of “Moderate Buy” and an average price target of $354.75.

Sei Investments Co. lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 11.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 666,545 shares of the company's stock after purchasing an additional 67,464 shares during the quarter. Sei Investments Co. owned 0.36% of L3Harris Technologies worth $230,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Davis R M Inc. lifted its position in L3Harris Technologies by 31.0% in the 1st quarter. Davis R M Inc. now owns 2,152 shares of the company's stock worth $743,000 after buying an additional 509 shares in the last quarter. State of Wyoming grew its holdings in shares of L3Harris Technologies by 144.9% during the 1st quarter. State of Wyoming now owns 933 shares of the company's stock valued at $322,000 after acquiring an additional 552 shares in the last quarter. Militia Capital Management LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at $1,532,000. Signature Equity Partners LLC increased its stake in shares of L3Harris Technologies by 2.3% in the first quarter. Signature Equity Partners LLC now owns 1,863 shares of the company's stock worth $643,000 after acquiring an additional 41 shares during the last quarter. Finally, CI Investments Inc. increased its stake in shares of L3Harris Technologies by 147.3% in the first quarter. CI Investments Inc. now owns 29,973 shares of the company's stock worth $10,345,000 after acquiring an additional 17,855 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Up 2.6%

NYSE:LHX opened at $285.03 on Thursday. L3Harris Technologies Inc has a 12 month low of $262.98 and a 12 month high of $379.23. The firm has a market cap of $53.10 billion, a price-to-earnings ratio of 30.95, a P/E/G ratio of 1.41 and a beta of 0.51. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $299.58 and its 200-day moving average is $328.82.

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 (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm earned $2.41 EPS. L3Harris Technologies's quarterly 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. Equities analysts anticipate that L3Harris Technologies Inc will post 11.54 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. UBS Group dropped 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. Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Finally, Wall Street Zen raised 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $354.75.

Insiders Place Their Bets

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 shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

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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