Arrowstreet Capital Limited Partnership Raises Position in L3Harris Technologies Inc $LHX

Arrowstreet Capital Limited Partnership grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 688,772 shares of the company’s stock after purchasing an additional 24,243 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in L3Harris Technologies were worth $202,203,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of L3Harris Technologies by 1,053.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after buying an additional 1,079,474 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth $211,703,000. Two Sigma Investments LP raised its position in shares of L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after buying an additional 521,312 shares during the period. Boston Partners raised its position in shares of L3Harris Technologies by 27.6% in the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after buying an additional 519,226 shares during the period. Finally, M&T Bank Corp raised its position in shares of L3Harris Technologies by 3,127.8% in the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after buying an additional 396,077 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.1%

NYSE:LHX opened at $307.60 on Monday. The company has a market capitalization of $57.30 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.50. L3Harris Technologies Inc has a one year low of $243.84 and a one year high of $379.23. The stock has a 50-day simple moving average of $322.93 and a 200 day simple moving average of $327.50. 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 (NYSE:LHX) last posted 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. The company 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 revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $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 EPS 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. Stockholders of record on Friday, June 5th will be issued a dividend of $1.25 per share. 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 54.29%.

Analyst Ratings Changes

Several brokerages recently weighed in on LHX. Sanford C. Bernstein cut their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Argus raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, UBS Group cut their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.75.

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.