Towarzystwo Funduszy Inwestycyjnych PZU SA Sells 44,002 Shares of L3Harris Technologies Inc $LHX

Key Points

• Towarzystwo Funduszy Inwestycyjnych PZU SA slashed its L3Harris Technologies position by 93.7% in the fourth quarter, selling 44,002 shares and retaining 2,936 shares worth about $862,000.
• L3Harris reported better-than-expected quarterly results, with EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion forecast, while revenue rose 11.9% year over year.
• The company also announced a quarterly dividend of $1.25 per share, which annualizes to $5.00 and implies a 1.6% yield; analysts currently rate the stock a Moderate Buy with an average target price of $354.75.

Towarzystwo Funduszy Inwestycyjnych PZU SA decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 93.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,936 shares of the company's stock after selling 44,002 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA's holdings in L3Harris Technologies were worth $862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Brighton Jones LLC increased its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Jump Financial LLC increased its holdings in shares of L3Harris Technologies by 14.9% during the second quarter. Jump Financial LLC now owns 2,995 shares of the company's stock worth $751,000 after buying an additional 388 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of L3Harris Technologies by 14.2% during the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock worth $4,285,000 after buying an additional 2,130 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of L3Harris Technologies during the second quarter worth approximately $856,000. Finally, CIBC Asset Management Inc increased its holdings in shares of L3Harris Technologies by 116.2% during the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after buying an additional 33,321 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $307.60 on Monday. 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 $57.30 billion, a P/E ratio of 33.40, a P/E/G ratio of 1.56 and a beta of 0.50. The firm has a 50 day simple moving average of $322.93 and a 200 day simple moving average of $327.50. L3Harris Technologies Inc has a fifty-two week low of $243.84 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. L3Harris Technologies's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies's dividend payout ratio (DPR) is currently 54.29%.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Sanford C. Bernstein dropped their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Finally, Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Two equities 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $354.75.

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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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