Horrell Capital Management Inc. Reduces Holdings in L3Harris Technologies Inc $LHX

Horrell Capital Management Inc. lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,337 shares of the company’s stock after selling 1,993 shares during the period. L3Harris Technologies makes up about 3.5% of Horrell Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Horrell Capital Management Inc.’s holdings in L3Harris Technologies were worth $7,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after acquiring an additional 190,955 shares in the last quarter. Capital World Investors boosted its stake in L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after purchasing an additional 329,910 shares in the last quarter. State Street Corp boosted its stake in L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Geode Capital Management LLC grew its position in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after purchasing an additional 106,430 shares during the last quarter. Finally, Morgan Stanley increased its stake in L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after purchasing an additional 124,797 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.

L3Harris Technologies Stock Down 1.4%

LHX opened at $289.44 on Friday. The stock has a market capitalization of $53.92 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.48 and a beta of 0.51. The firm has a 50 day moving average price of $303.58 and a 200-day moving average price of $329.52. L3Harris Technologies Inc has a twelve month low of $256.51 and a twelve month high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The company 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 firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein decreased their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Two research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.