Peapack Gladstone Financial Corp Purchases 1,648 Shares of L3Harris Technologies Inc $LHX

Peapack Gladstone Financial Corp grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,551 shares of the company’s stock after buying an additional 1,648 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in L3Harris Technologies were worth $12,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LHX. Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after buying an additional 1,079,474 shares during the period. Artisan Partners Limited Partnership bought a new position in shares of L3Harris Technologies during the 3rd quarter valued at $211,703,000. Two Sigma Investments LP raised its holdings in L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after purchasing an additional 521,312 shares during the period. M&T Bank Corp raised its holdings in L3Harris Technologies by 3,127.8% in the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in L3Harris Technologies by 42.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company’s stock worth $336,343,000 after purchasing an additional 325,963 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on LHX shares. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Morgan Stanley raised their target price on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Citigroup raised their target price on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Down 1.6%

Shares of LHX stock opened at $310.01 on Tuesday. L3Harris Technologies Inc has a 52-week low of $237.56 and a 52-week high of $379.23. 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 firm has a market capitalization of $57.75 billion, a PE ratio of 33.66, a PEG ratio of 1.59 and a beta of 0.51. The stock has a fifty day simple moving average of $330.34 and a two-hundred day simple moving average of $326.17.

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

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by insiders.

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.