Schwartz Investment Counsel Inc. lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,575 shares of the company’s stock after selling 10,400 shares during the period. L3Harris Technologies accounts for approximately 1.5% of Schwartz Investment Counsel Inc.’s holdings, making the stock its 25th biggest position. Schwartz Investment Counsel Inc. owned 0.06% of L3Harris Technologies worth $41,616,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Artisan Partners Limited Partnership increased its holdings in shares of L3Harris Technologies by 174.2% in the 4th 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. Two Sigma Investments LP increased its stake in shares of 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 raised its holdings in shares of L3Harris Technologies by 27.6% during the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after buying an additional 519,226 shares during the last quarter. M&T Bank Corp boosted its position in shares of L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after buying an additional 396,077 shares during the period. Finally, Diamant Asset Management Inc. increased its position in L3Harris Technologies by 34,415.0% in the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock valued at $123,298,000 after acquiring an additional 356,195 shares during the period. Institutional investors own 84.76% of the company’s stock.
Wall Street Analyst Weigh In
LHX has been the topic of a number of recent analyst reports. UBS Group cut their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Two 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $354.75.
L3Harris Technologies Trading Down 0.7%
L3Harris Technologies stock opened at $288.68 on Tuesday. L3Harris Technologies Inc has a 52 week low of $257.35 and a 52 week high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 31.34, a P/E/G ratio of 1.47 and a beta of 0.51. The company has a 50 day moving average price of $302.32 and a 200 day moving average price of $329.43.
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the company earned $2.41 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.53 EPS for the current year.
L3Harris Technologies Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.
Insider Activity at L3Harris Technologies
In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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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