Hsbc Holdings PLC boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 344,308 shares of the company’s stock after buying an additional 4,640 shares during the period. Hsbc Holdings PLC’s holdings in L3Harris Technologies were worth $101,168,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership increased its position in shares of L3Harris Technologies by 174.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock worth $557,933,000 after acquiring an additional 1,207,334 shares during the period. Victory Capital Management Inc. boosted its holdings in L3Harris Technologies by 1,053.9% in the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after purchasing an additional 1,079,474 shares during the period. Two Sigma Investments LP boosted its holdings in L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after purchasing an additional 521,312 shares during the period. Boston Partners grew its stake in L3Harris Technologies by 27.6% during the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares in the last quarter. Finally, M&T Bank Corp grew its stake in L3Harris Technologies by 3,127.8% during the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.
Insider Buying and Selling
In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the 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 transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This 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 this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.
L3Harris Technologies Stock Up 0.1%
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (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 business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the firm posted $2.41 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, sell-side analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The firm 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. 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 is 54.29%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Sanford C. Bernstein reduced their price target 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. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, UBS Group decreased their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $354.75.
Read Our Latest Research Report on L3Harris Technologies
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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