Thrivent Financial for Lutherans Boosts Holdings in L3Harris Technologies Inc $LHX

Key Points

• Thrivent Financial for Lutherans increased its L3Harris Technologies stake by 0.8% in the fourth quarter, ending with 427,227 shares valued at about $125.4 million.
• Wall Street sentiment remains constructive, with analysts assigning LHX a consensus rating of Moderate Buy and an average price target of $354.75.
• L3Harris reported better-than-expected quarterly results, posting EPS of $2.72 versus estimates of $2.53 and revenue of $5.74 billion, while also announcing a quarterly dividend of $1.25 per share.

Thrivent Financial for Lutherans grew its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 427,227 shares of the company's stock after purchasing an additional 3,290 shares during the quarter. Thrivent Financial for Lutherans owned 0.23% of L3Harris Technologies worth $125,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitlin John LLC purchased a new position in L3Harris Technologies in the third quarter worth approximately $28,000. American National Bank & Trust lifted its stake in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after acquiring an additional 30 shares during the last quarter. JPL Wealth Management LLC purchased a new position in L3Harris Technologies in the third quarter worth approximately $29,000. Triumph Capital Management purchased a new position in L3Harris Technologies in the third quarter worth approximately $31,000. Finally, GGM Financials LLC purchased a new position in L3Harris Technologies in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LHX shares. Morgan Stanley lifted their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Two investment 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

Insider Transactions at L3Harris Technologies

In other news, insider Jon Rambeau sold 5,528 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. This represents a 34.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,365 shares of company stock worth $5,861,117. 0.68% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 0.8%

Shares of NYSE:LHX opened at $307.41 on Friday. The company has a market capitalization of $57.27 billion, a PE ratio of 33.38, a P/E/G ratio of 1.54 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a twelve month low of $220.87 and a twelve month high of $379.23. The firm has a 50 day simple moving average of $343.35 and a 200-day simple moving average of $324.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data 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 business 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% compared to the same quarter last year. 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. On average, equities analysts predict that L3Harris Technologies Inc will post 11.57 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's payout ratio is currently 54.29%.

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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