Swiss National Bank Grows Stock Position in L3Harris Technologies Inc $LHX

Key Points

• The Swiss National Bank increased its stake in L3Harris Technologies by 7.1% in the first quarter, bringing its holdings to 549,029 shares valued at about $189.5 million.
• L3Harris reported strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion also topping forecasts, while revenue rose 11.9% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $354.75, even as some firms trimmed targets or adjusted ratings.

Swiss National Bank raised its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,029 shares of the company's stock after buying an additional 36,320 shares during the quarter. Swiss National Bank owned about 0.29% of L3Harris Technologies worth $189,497,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership raised its stake in L3Harris Technologies by 174.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after acquiring an additional 1,207,334 shares during the period. Two Sigma Investments LP boosted its position in L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock worth $187,609,000 after purchasing an additional 521,312 shares during the period. Boston Partners boosted its position in L3Harris Technologies by 27.6% during the fourth quarter. Boston Partners now owns 2,401,871 shares of the company's stock worth $709,396,000 after purchasing an additional 519,226 shares during the period. M&T Bank Corp increased its stake in shares of L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company's stock worth $119,994,000 after purchasing an additional 396,077 shares in the last quarter. Finally, Diamant Asset Management Inc. increased its stake in shares of L3Harris Technologies by 34,415.0% in the first quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company's stock worth $123,298,000 after purchasing an additional 356,195 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $282.22 on Monday. The company has a 50 day moving average of $301.05 and a 200 day moving average of $329.09. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock has a market cap of $52.57 billion, a P/E ratio of 30.64, a P/E/G ratio of 1.43 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $260.22 and a 12 month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results 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. 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 for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on LHX. Sanford C. Bernstein dropped their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. UBS Group lowered their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $354.75.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 company insiders.

L3Harris Technologies Company 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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