GHP Investment Advisors Inc. Boosts Stock Holdings in L3Harris Technologies Inc $LHX

GHP Investment Advisors Inc. lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 5.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,111 shares of the company’s stock after purchasing an additional 2,086 shares during the period. GHP Investment Advisors Inc.’s holdings in L3Harris Technologies were worth $14,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Korea Investment CORP raised its stake in shares of L3Harris Technologies by 11.2% during the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after acquiring an additional 15,408 shares in the last quarter. Allstate Corp grew its holdings in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares during the last quarter. Neo Ivy Capital Management purchased a new position in L3Harris Technologies in the third quarter worth $1,203,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of L3Harris Technologies during the third quarter worth $72,446,000. Finally, Jain Global LLC lifted its holdings in shares of L3Harris Technologies by 469.1% during the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company’s stock valued at $14,006,000 after purchasing 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

Several brokerages recently weighed in on LHX. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Sanford C. Bernstein dropped their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. UBS Group cut their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two 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 stock has an average rating of “Moderate Buy” and an average target price of $354.75.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction 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 owned 4,192 shares in the company, valued at $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 is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

Shares of LHX opened at $288.55 on Friday. 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 50-day moving average of $312.13 and a two-hundred day moving average of $328.79. The stock has a market cap of $53.75 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.45 and a beta of 0.50. L3Harris Technologies Inc has a one year low of $245.12 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the company earned $2.41 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 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.