NewEdge Wealth LLC Raises Holdings in L3Harris Technologies Inc $LHX

NewEdge Wealth LLC lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 26.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,805 shares of the company’s stock after buying an additional 2,280 shares during the period. NewEdge Wealth LLC’s holdings in L3Harris Technologies were worth $3,172,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caitlin John LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $28,000. American National Bank & Trust raised its stake in shares of L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $29,000. Triumph Capital Management purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $31,000. Finally, GGM Financials LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $32,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Up 0.9%

LHX stock opened at $302.46 on Tuesday. The company’s 50 day simple moving average is $347.15 and its 200-day simple moving average is $324.20. The firm has a market capitalization of $56.34 billion, a PE ratio of 32.84, a P/E/G ratio of 1.51 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $214.10 and a 12 month high of $379.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts expect that L3Harris Technologies Inc will post 11.56 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Argus raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Morgan Stanley raised their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Sanford C. Bernstein dropped their price objective 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 issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.75.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Melanie Rakita sold 2,378 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total value of $811,968.10. Following the transaction, the vice president directly owned 4,882 shares of the company’s stock, valued at $1,666,958.90. The trade was a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,365 shares of company stock valued at $5,861,117. Corporate insiders own 0.68% of the company’s stock.

L3Harris Technologies Company 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.