Union Square Park Capital Management LLC Makes New Investment in L3Harris Technologies Inc $LHX

Union Square Park Capital Management LLC purchased a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,500 shares of the company's stock, valued at approximately $1,208,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in LHX. Vanguard Group Inc. lifted its holdings in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after acquiring an additional 190,955 shares during the last quarter. Capital World Investors increased its stake in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company's stock valued at $3,418,747,000 after acquiring an additional 329,910 shares during the last quarter. State Street Corp increased its stake in L3Harris Technologies by 1.6% in the fourth quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the last quarter. Geode Capital Management LLC raised its position in L3Harris Technologies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after purchasing an additional 106,430 shares in the last quarter. Finally, Morgan Stanley raised its position in L3Harris Technologies by 3.9% during the fourth quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock valued at $974,072,000 after purchasing an additional 124,797 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

NYSE LHX opened at $300.08 on Friday. The company has a 50-day simple moving average of $299.36 and a two-hundred day simple moving average of $328.58. 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 $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.52 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.54 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 4th. L3Harris Technologies's dividend payout ratio (DPR) is presently 54.29%.

Insider Buying and Selling

In other L3Harris Technologies 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 transaction, the vice president directly 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 sale was disclosed in a document filed 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 owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research reports. UBS Group cut their price objective on 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 decreased their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Weiss Ratings downgraded L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $361.70.

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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