Fifth Third Bancorp Buys 66,598 Shares of L3Harris Technologies Inc $LHX

Fifth Third Bancorp increased its stake in L3Harris Technologies Inc (NYSE:LHX) by 239.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,391 shares of the company’s stock after buying an additional 66,598 shares during the quarter. Fifth Third Bancorp’s holdings in L3Harris Technologies were worth $32,579,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in 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 acquiring an additional 190,955 shares in the last quarter. Capital World Investors grew its position in shares of L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after acquiring an additional 329,910 shares during the period. State Street Corp grew its position in shares of L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the period. Geode Capital Management LLC increased its stake in shares of L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after purchasing an additional 106,430 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of L3Harris Technologies by 3.9% in the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after purchasing an additional 124,797 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research analyst reports. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein dropped their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group reduced their target price 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. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $354.75.

Insider Activity at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the firm’s 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 in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Up 0.0%

Shares of LHX stock opened at $290.91 on Monday. L3Harris Technologies Inc has a fifty-two week low of $257.35 and a fifty-two week high of $379.23. The stock’s fifty day moving average price is $302.97 and its two-hundred day moving average price is $329.49. 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 company has a market cap of $54.19 billion, a PE ratio of 31.59, a P/E/G ratio of 1.47 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 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.19. The business 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%.L3Harris Technologies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

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

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.