Harel Insurance Investments & Financial Services Ltd. Increases Stock Position in L3Harris Technologies Inc $LHX

Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 38.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,946 shares of the company’s stock after acquiring an additional 9,764 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in L3Harris Technologies were worth $12,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LHX. Cedar Mountain Advisors LLC boosted its position in shares of L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $25,000. Tower View Wealth Management LLC purchased a new stake in L3Harris Technologies in the first quarter valued at approximately $29,000. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies during the fourth quarter worth $25,000. Finally, Motiv8 Investments LLC acquired a new position in L3Harris Technologies during the fourth quarter worth $25,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

Shares of LHX opened at $290.19 on Wednesday. The stock has a 50-day simple moving average of $302.07 and a 200-day simple moving average of $329.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The stock has a market capitalization of $54.06 billion, a PE ratio of 31.51, a PEG ratio of 1.46 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $260.06 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion for 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%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts predict that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein dropped their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, UBS Group reduced their price target on shares of 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.75.

Insider Activity 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 shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president directly owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.