Diversify Wealth Management LLC Acquires 3,536 Shares of L3Harris Technologies Inc $LHX

Diversify Wealth Management LLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX) by 282.2% in the 1st quarter, HoldingsChannel reports. The firm owned 4,789 shares of the company’s stock after acquiring an additional 3,536 shares during the period. Diversify Wealth Management LLC’s holdings in L3Harris Technologies were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Valmark Advisers Inc. increased its position in L3Harris Technologies by 1.8% in the first quarter. Valmark Advisers Inc. now owns 5,247 shares of the company’s stock worth $1,811,000 after buying an additional 94 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in shares of L3Harris Technologies by 583.3% during the 1st quarter. Pittenger & Anderson Inc. now owns 164 shares of the company’s stock valued at $57,000 after acquiring an additional 140 shares during the period. Midwest Trust Co increased its holdings in L3Harris Technologies by 7.0% in the 1st quarter. Midwest Trust Co now owns 1,737 shares of the company’s stock worth $600,000 after acquiring an additional 114 shares in the last quarter. Fifth Third Bancorp raised its stake in L3Harris Technologies by 239.6% during the 1st quarter. Fifth Third Bancorp now owns 94,391 shares of the company’s stock worth $32,579,000 after acquiring an additional 66,598 shares during the period. Finally, Glass Wealth Management Co LLC lifted its holdings in L3Harris Technologies by 2.2% during the first quarter. Glass Wealth Management Co LLC now owns 20,445 shares of the company’s stock valued at $7,057,000 after purchasing an additional 438 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. UBS Group lowered their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Weiss Ratings downgraded shares of 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. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Up 0.5%

Shares of LHX opened at $290.19 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 1 year low of $260.06 and a 1 year high of $379.23. The company has a 50 day simple moving average of $302.07 and a two-hundred day simple moving average of $329.36. The firm has a market cap of $54.06 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter last year, the business posted $2.41 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business’s 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. The trade was a 34.21% decrease in their position. The sale was disclosed in a document filed 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. Corporate insiders own 0.68% of the company’s stock.

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.