Lord Abbett & CO. LLC increased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 314,908 shares of the company’s stock after purchasing an additional 9,140 shares during the period. Lord Abbett & CO. LLC’s holdings in L3Harris Technologies were worth $92,448,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. 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 valued at $6,872,710,000 after purchasing an additional 190,955 shares in the last quarter. Capital World Investors raised its position in L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after buying an additional 329,910 shares during the last quarter. Geode Capital Management LLC raised its position in L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after buying an additional 106,430 shares during the last quarter. Goldman Sachs Group Inc. raised its position in L3Harris Technologies by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock valued at $531,416,000 after buying an additional 110,423 shares during the last quarter. Finally, Bank of America Corp DE raised its position in L3Harris Technologies by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock valued at $433,582,000 after buying an additional 52,776 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on LHX shares. UBS Group dropped their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Argus raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Sanford C. Bernstein dropped their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $354.75.
Insider Buying and Selling at L3Harris Technologies
In other L3Harris Technologies news, 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 transaction, the vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company insiders.
L3Harris Technologies Stock Down 1.5%
NYSE:LHX opened at $307.60 on Friday. The firm has a market capitalization of $57.30 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.50. L3Harris Technologies Inc has a twelve month low of $243.84 and a twelve month high of $379.23. The stock’s 50 day moving average price is $322.93 and its two-hundred day moving average price is $327.13. 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 posted its quarterly 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 firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s quarterly 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. Equities research analysts expect 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. Shareholders of record on Friday, June 5th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is 54.29%.
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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