ProShare Advisors LLC Has $10.11 Million Stake in L3Harris Technologies Inc $LHX

ProShare Advisors LLC increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.8% during the fourth quarter, HoldingsChannel reports. The fund owned 34,429 shares of the company’s stock after buying an additional 2,779 shares during the period. ProShare Advisors LLC’s holdings in L3Harris Technologies were worth $10,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Burns J W & Co. Inc. NY increased its stake in L3Harris Technologies by 3.1% in the 4th quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after buying an additional 30 shares during the last quarter. American National Bank & Trust increased its stake in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in L3Harris Technologies by 3.7% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after buying an additional 31 shares during the last quarter. Rainier Family Wealth Inc. increased its stake in L3Harris Technologies by 4.8% in the 4th quarter. Rainier Family Wealth Inc. now owns 700 shares of the company’s stock valued at $205,000 after buying an additional 32 shares during the last quarter. Finally, San Luis Wealth Advisors LLC increased its stake in L3Harris Technologies by 5.1% in the 4th quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company’s stock valued at $207,000 after buying an additional 34 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the transaction, the insider directly owned 7,756 shares in the company, valued at $2,872,201.92. The trade was a 41.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president owned 4,882 shares in the company, valued at approximately $1,666,958.90. This trade represents a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,365 shares of company stock worth $5,861,117 in the last ninety days. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LHX shares. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Citigroup lifted their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein lowered their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Two research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Stock Down 0.9%

L3Harris Technologies stock opened at $306.42 on Friday. The firm has a market capitalization of $57.08 billion, a PE ratio of 33.27, a P/E/G ratio of 1.56 and a beta of 0.51. The company’s 50-day moving average is $337.56 and its 200-day moving average is $325.14. L3Harris Technologies Inc has a fifty-two week low of $232.73 and a fifty-two week 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 data 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 company 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%. L3Harris Technologies’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is currently 54.29%.

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.