L3Harris Technologies Inc $LHX Position Lifted by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,291 shares of the company’s stock after acquiring an additional 3,957 shares during the quarter. HighTower Advisors LLC’s holdings in L3Harris Technologies were worth $11,535,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LHX. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $28,000. American National Bank & Trust raised its holdings in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $29,000. Triumph Capital Management acquired a new stake in shares of L3Harris Technologies during the third quarter worth $31,000. Finally, GGM Financials LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $32,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

L3Harris Technologies Stock Up 0.0%

LHX stock opened at $312.12 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a fifty-two week low of $235.72 and a fifty-two week high of $379.23. The firm’s 50-day simple moving average is $335.61 and its 200 day simple moving average is $325.46. The stock has a market cap of $58.15 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51.

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 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 business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter last year, the company earned $2.41 EPS. The company’s revenue for the quarter 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. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 in the last quarter. Company insiders own 0.68% of the company’s stock.

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.