Amova Asset Management Americas Inc. Increases Position in L3Harris Technologies Inc $LHX

Amova Asset Management Americas Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,339 shares of the company’s stock after acquiring an additional 11,744 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in L3Harris Technologies were worth $36,217,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Korea Investment CORP increased its position in L3Harris Technologies by 11.2% in the third quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after buying an additional 15,408 shares during the last quarter. Allstate Corp lifted its position in shares of L3Harris Technologies by 106.7% during 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. Neo Ivy Capital Management bought a new position in shares of L3Harris Technologies during the 3rd quarter worth $1,203,000. Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of L3Harris Technologies during the 3rd quarter worth $72,446,000. Finally, Jain Global LLC increased its holdings in L3Harris Technologies by 469.1% in the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company’s stock worth $14,006,000 after acquiring an additional 37,803 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research reports. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. UBS Group cut their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction 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. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $307.89 on Wednesday. The stock’s 50-day simple moving average is $325.23 and its two-hundred day simple moving average is $326.89. L3Harris Technologies Inc has a twelve month low of $237.56 and a twelve month high of $379.23. The firm has a market capitalization of $57.36 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.53 and a beta of 0.50. 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 announced its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. L3Harris Technologies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced 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. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

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.