L3Harris Technologies Inc $LHX Shares Acquired by Allstate Corp

Allstate Corp raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 106.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,985 shares of the company’s stock after purchasing an additional 7,219 shares during the period. Allstate Corp’s holdings in L3Harris Technologies were worth $4,106,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in shares of L3Harris Technologies by 1,053.9% in the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after purchasing an additional 1,079,474 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of L3Harris Technologies in the third quarter valued at approximately $211,703,000. Two Sigma Investments LP boosted its stake in shares of L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after purchasing an additional 521,312 shares during the period. M&T Bank Corp boosted its stake in shares of L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock valued at $119,994,000 after purchasing an additional 396,077 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in L3Harris Technologies by 42.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company’s stock worth $336,343,000 after acquiring an additional 325,963 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $309.25 on Thursday. The firm’s fifty day simple moving average is $333.57 and its 200-day simple moving average is $325.82. The stock has a market capitalization of $57.61 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 1.58 and a beta of 0.51. L3Harris Technologies Inc has a 12 month low of $237.56 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 announced its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced 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. 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 payout ratio is presently 54.29%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LHX. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of L3Harris Technologies stock in a transaction on 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 transaction, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Melanie Rakita sold 2,180 shares of the business’s stock in a transaction 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 directly owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. 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 13,987 shares of company stock valued at $5,049,149 in the last ninety days. 0.68% of the stock is currently owned by company insiders.

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.