Union Square Park Capital Management LLC Takes Position in L3Harris Technologies Inc $LHX

Union Square Park Capital Management LLC bought a new position in shares of L3Harris Technologies Inc (NYSE:LHXFree Report) in the first quarter, HoldingsChannel reports. The firm bought 3,500 shares of the company’s stock, valued at approximately $1,208,000.

Several other large investors also recently modified their holdings of LHX. Cedar Mountain Advisors LLC raised its position in L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $25,000. Tower View Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the first quarter valued at approximately $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Finally, Motiv8 Investments LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LHX shares. UBS Group dropped their price target on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company 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 report on Tuesday, June 23rd. Sanford C. Bernstein dropped their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $361.70.

Read Our Latest Research Report on LHX

Insider Activity

In other 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 value of $676,781.00. Following the sale, 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 SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Stock Up 0.1%

NYSE:LHX opened at $300.08 on Friday. 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’s 50-day moving average price is $299.36 and its 200-day moving average price is $328.58. The company has a market capitalization of $55.90 billion, a PE ratio of 32.58, a P/E/G ratio of 1.52 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $262.98 and a 1-year high of $379.23.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly 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 net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the company posted $2.41 EPS. L3Harris Technologies’s 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 predict that L3Harris Technologies Inc will post 11.54 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

About L3Harris Technologies

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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