Bessemer Group Inc. Cuts Stake in L3Harris Technologies Inc $LHX

Bessemer Group Inc. lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 29.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 565,926 shares of the company’s stock after selling 233,462 shares during the quarter. Bessemer Group Inc.’s holdings in L3Harris Technologies were worth $166,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LHX. Victory Capital Management Inc. boosted its stake in L3Harris Technologies by 1,053.9% in the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after buying an additional 1,079,474 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in L3Harris Technologies in the third quarter worth approximately $211,703,000. Two Sigma Investments LP boosted its stake in L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after buying an additional 521,312 shares in the last quarter. M&T Bank Corp boosted its stake in L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after buying an additional 396,077 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in L3Harris Technologies by 42.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company’s stock valued at $336,343,000 after purchasing an additional 325,963 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent research reports. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,378 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president owned 4,882 shares in the company, valued at $1,666,958.90. This represents a 32.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the company’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 value of $2,047,128.96. Following the transaction, the insider owned 7,660 shares of the company’s stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,365 shares of company stock worth $5,861,117 over the last quarter. 0.68% of the stock is owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $307.41 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $57.27 billion, a PE ratio of 33.38, a P/E/G ratio of 1.54 and a beta of 0.51. The business has a 50 day moving average of $343.35 and a 200 day moving average of $324.52. L3Harris Technologies Inc has a 52 week low of $220.87 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.41 earnings per share. 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 11.57 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued 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 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.