Hendley & Co. Inc. Acquires New Shares in L3Harris Technologies Inc $LHX

Hendley & Co. Inc. purchased a new position in L3Harris Technologies Inc (NYSE:LHX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,965 shares of the company’s stock, valued at approximately $577,000.

A number of other large investors have also recently made changes to their positions in LHX. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. Jump Financial LLC boosted its holdings in shares of L3Harris Technologies by 14.9% in the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after acquiring an additional 388 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock worth $4,285,000 after acquiring an additional 2,130 shares during the period. Nebula Research & Development LLC bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $856,000. Finally, CIBC Asset Management Inc increased its holdings in L3Harris Technologies by 116.2% during the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after acquiring an additional 33,321 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,378 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total value of $811,968.10. Following the transaction, the vice president owned 4,882 shares of the company’s stock, valued at $1,666,958.90. This represents a 32.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samir Mehta sold 5,528 shares of the 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 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 disclosure for this sale is available in the SEC filing. Insiders have sold 16,365 shares of company stock valued at $5,861,117 in the last quarter. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LHX shares. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Citigroup upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $303.56 on Friday. The company’s fifty day moving average price is $342.05 and its 200-day moving average price is $324.38. The firm has a market capitalization of $56.55 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.53 and a beta of 0.51. L3Harris Technologies Inc has a one year low of $226.47 and a one year 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 issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The firm 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 business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.57 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. Stockholders of record on Friday, June 5th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is presently 54.29%.

L3Harris Technologies 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.