Adams Diversified Equity Fund Inc. Acquires 23,300 Shares of L3Harris Technologies Inc $LHX

Adams Diversified Equity Fund Inc. grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 55.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 65,400 shares of the company’s stock after purchasing an additional 23,300 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in L3Harris Technologies were worth $19,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LHX. Victory Capital Management Inc. boosted its holdings in L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after acquiring an additional 1,079,474 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in L3Harris Technologies during the third quarter valued at about $211,703,000. Two Sigma Investments LP lifted its holdings in L3Harris Technologies by 560.7% during 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 last quarter. Boston Partners lifted its holdings in L3Harris Technologies by 27.6% during the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after purchasing an additional 519,226 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in L3Harris Technologies by 3,127.8% during 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 last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 1.5%

Shares of LHX opened at $307.60 on Friday. The firm has a market cap of $57.30 billion, a P/E ratio of 33.40, a P/E/G ratio of 1.56 and a beta of 0.50. The stock has a 50 day simple moving average of $322.93 and a two-hundred day simple moving average of $327.13. 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 Inc has a 1 year low of $243.84 and a 1 year high of $379.23.

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, beating analysts’ consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors 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 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. UBS Group decreased their price target 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. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $354.75.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by 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.