M3 Wealth Management LLC Takes Position in L3Harris Technologies Inc $LHX

M3 Wealth Management LLC bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,572 shares of the company’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Korea Investment CORP boosted its stake in L3Harris Technologies by 11.2% during the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock valued at $46,901,000 after purchasing an additional 15,408 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in L3Harris Technologies by 13.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock valued at $9,230,000 after purchasing an additional 3,532 shares during the period. Crystal Rock Capital Management acquired a new position in L3Harris Technologies during the 3rd quarter valued at about $1,993,000. Neo Ivy Capital Management acquired a new position in L3Harris Technologies during the 3rd quarter valued at about $1,203,000. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new position in L3Harris Technologies during the 3rd quarter valued at about $72,446,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of the business’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 transaction of $2,047,128.96. Following the sale, the insider owned 7,756 shares in the company, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Melanie Rakita sold 2,180 shares of the business’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 transaction of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,365 shares of company stock worth $5,861,117 over the last 90 days. 0.68% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 0.5%

NYSE LHX opened at $313.55 on Wednesday. L3Harris Technologies Inc has a 12 month low of $237.56 and a 12 month high of $379.23. The company’s 50 day simple moving average is $334.71 and its 200 day simple moving average is $325.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The company has a market capitalization of $58.41 billion, a P/E ratio of 34.04, a PEG ratio of 1.58 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The firm’s revenue 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. Equities research analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is currently 54.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Citigroup boosted their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, UBS Group reduced their price target on shares of 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 investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $354.75.

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.