Goldman Sachs Group Inc. Acquires 110,423 Shares of L3Harris Technologies Inc $LHX

Goldman Sachs Group Inc. boosted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,810,186 shares of the company’s stock after buying an additional 110,423 shares during the quarter. Goldman Sachs Group Inc.’s holdings in L3Harris Technologies were worth $531,416,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC increased its position in L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC lifted its stake in L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after purchasing an additional 2,130 shares during the last quarter. Nebula Research & Development LLC bought a new position in L3Harris Technologies in the 2nd quarter valued at approximately $856,000. Finally, CIBC Asset Management Inc boosted its position in L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after buying an additional 33,321 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $309.91 on Friday. The firm has a market cap of $57.73 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 1.53 and a beta of 0.50. The firm’s fifty day moving average is $327.78 and its 200-day moving average is $326.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a 52 week low of $237.56 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Insider Activity

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company 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.