Tempo Wealth LLC Takes $1.06 Million Position in L3Harris Technologies Inc $LHX

Key Points

• Tempo Wealth LLC initiated a new position in L3Harris Technologies, buying 3,622 shares worth about $1.06 million in the fourth quarter.
• L3Harris shares were down 5.8%, trading at $294.98, even as the company reported better-than-expected quarterly results with $2.72 EPS and $5.74 billion in revenue.
• The company declared a quarterly dividend of $1.25 per share, and analysts currently rate the stock Moderate Buy with a consensus target price of $354.75.

Tempo Wealth LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,622 shares of the company's stock, valued at approximately $1,063,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. REAP Financial Group LLC raised its stake in shares of L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company's stock valued at $74,000 after acquiring an additional 29 shares during the period. Burns J W & Co. Inc. NY boosted its position in L3Harris Technologies by 3.1% during the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock worth $290,000 after purchasing an additional 30 shares during the period. American National Bank & Trust increased its holdings in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in L3Harris Technologies by 5.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company's stock valued at $161,000 after purchasing an additional 30 shares during the period. Finally, Turtle Creek Wealth Advisors LLC raised its position in L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock valued at $253,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Trading Down 5.8%

LHX opened at $294.98 on Friday. The stock has a market capitalization of $54.95 billion, a PE ratio of 32.03, a P/E/G ratio of 1.58 and a beta of 0.50. The firm's fifty day moving average price is $318.86 and its 200 day moving average price is $328.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 12-month low of $243.84 and a 12-month high of $379.23.

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

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred 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 owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale 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 corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Argus raised L3Harris Technologies to a "strong-buy" rating in a research report on Friday, February 27th. Weiss Ratings raised shares of L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 13th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies 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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