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

Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 38.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,946 shares of the company’s stock after acquiring an additional 9,764 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in L3Harris Technologies were worth $12,062,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Allstate Corp raised its stake in L3Harris Technologies by 106.7% during the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after acquiring an additional 7,219 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in L3Harris Technologies in the fourth quarter valued at $907,000. Atria Investments Inc boosted its stake in L3Harris Technologies by 77.9% in the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock valued at $4,345,000 after acquiring an additional 6,482 shares in the last quarter. Vanguard Group Inc. grew 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 worth $6,872,710,000 after purchasing an additional 190,955 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of L3Harris Technologies by 23.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after purchasing an additional 41,414 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LHX shares. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Sanford C. Bernstein reduced 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. Finally, UBS Group reduced their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $290.19 on Wednesday. The stock has a market capitalization of $54.06 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. L3Harris Technologies Inc has a 52-week low of $260.06 and a 52-week high of $379.23. The stock’s 50-day moving average price is $302.07 and its 200 day moving average price is $329.36. 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 posted its quarterly earnings data 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. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the firm earned $2.41 EPS. The firm’s revenue for the quarter 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, equities research analysts forecast that L3Harris Technologies Inc will post 11.53 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Company 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.