Capital Group Investment Management PTE. LTD. Has $1.99 Million Position in L3Harris Technologies Inc $LHX

Capital Group Investment Management PTE. LTD. boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 35.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,778 shares of the company’s stock after purchasing an additional 1,783 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in L3Harris Technologies were worth $1,990,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Korea Investment CORP grew its position in shares of L3Harris Technologies by 11.2% in the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock valued at $46,901,000 after buying an additional 15,408 shares during the last quarter. Allstate Corp grew its position in shares of L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after buying an additional 7,219 shares during the last quarter. Crystal Rock Capital Management bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $1,993,000. Neo Ivy Capital Management bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $1,203,000. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $72,446,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings upgraded L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. UBS Group cut their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Wall Street Zen upgraded 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 given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.75.

L3Harris Technologies Stock Down 0.6%

Shares of L3Harris Technologies stock opened at $307.99 on Friday. L3Harris Technologies Inc has a one year low of $237.56 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. The stock’s 50-day moving average is $326.90 and its 200 day moving average is $326.35. The firm has a market cap of $57.37 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.56 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the company earned $2.41 EPS. The firm’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. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.