North Dakota State Investment Board Buys New Stake in L3Harris Technologies Inc $LHX

North Dakota State Investment Board bought a new stake in L3Harris Technologies Inc (NYSE:LHX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 6,405 shares of the company’s stock, valued at approximately $1,880,000.

Several other large investors have also recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in L3Harris Technologies in the fourth quarter valued at $93,000. Rossmore Private Capital grew its holdings in shares of L3Harris Technologies by 38.7% during the fourth quarter. Rossmore Private Capital now owns 6,399 shares of the company’s stock worth $1,879,000 after purchasing an additional 1,787 shares during the last quarter. Soltis Investment Advisors LLC grew its holdings in shares of L3Harris Technologies by 8.0% during the fourth quarter. Soltis Investment Advisors LLC now owns 868 shares of the company’s stock worth $255,000 after purchasing an additional 64 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 895.2% during the fourth quarter. iA Global Asset Management Inc. now owns 25,756 shares of the company’s stock worth $7,561,000 after purchasing an additional 23,168 shares during the last quarter. Finally, Hendley & Co. Inc. purchased a new position in shares of L3Harris Technologies during the fourth quarter worth about $577,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Melanie Rakita sold 2,180 shares of the firm’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 transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 16,365 shares of company stock worth $5,861,117. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

LHX has been the topic of several research reports. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Argus raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Finally, Citigroup raised their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Performance

NYSE LHX opened at $307.95 on Wednesday. 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 Inc has a 52-week low of $229.10 and a 52-week high of $379.23. The business’s 50-day moving average price is $339.90 and its 200 day moving average price is $324.93. The firm has a market cap of $57.37 billion, a P/E ratio of 33.44, a P/E/G ratio of 1.57 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS 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 the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last 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, equities research analysts expect that L3Harris Technologies Inc will post 11.57 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given 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 is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

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.