Independent Financial Group LLC Takes Position in L3Harris Technologies Inc $LHX

Independent Financial Group LLC acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,228 shares of the company’s stock, valued at approximately $769,000.

Other large investors have also bought and sold shares of the company. Cedar Mountain Advisors LLC increased its position in shares of L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in L3Harris Technologies in the 4th quarter worth $25,000. Tower View Wealth Management LLC acquired a new position in L3Harris Technologies in the 1st quarter worth $29,000. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies during the 4th quarter worth about $25,000. Finally, Motiv8 Investments LLC bought a new position in L3Harris Technologies during the 4th quarter worth about $25,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. UBS Group decreased their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein cut their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Finally, Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two equities 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Stock Down 1.1%

NYSE:LHX opened at $277.60 on Wednesday. The firm has a market capitalization of $51.71 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. L3Harris Technologies Inc has a twelve month low of $260.22 and a twelve month high of $379.23. The stock’s 50 day moving average price is $299.98 and its two-hundred day moving average price is $328.88. 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 announced its quarterly earnings data 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 net margin of 7.71% and a return on equity of 10.65%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts expect that L3Harris Technologies Inc will post 11.54 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s payout ratio is 54.29%.

Insider Transactions 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 stock was sold at an average price of $310.45, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.

About L3Harris Technologies

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.