WMS Group LLC Invests $701,000 in L3Harris Technologies Inc $LHX

WMS Group LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 2,031 shares of the company’s stock, valued at approximately $701,000. L3Harris Technologies makes up 1.0% of WMS Group LLC’s investment portfolio, making the stock its 27th biggest holding.

Several other large investors have also added to or reduced their stakes in LHX. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. Capital World Investors raised its holdings in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after buying an additional 329,910 shares during the last quarter. State Street Corp lifted its position in 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of L3Harris Technologies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after buying an additional 106,430 shares during the last quarter. Finally, Morgan Stanley lifted its position in L3Harris Technologies by 3.9% during the fourth 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. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, UBS Group lowered their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.75.

Insider Activity

In related 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 transaction 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 approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Trading Up 1.0%

LHX stock opened at $291.45 on Friday. L3Harris Technologies Inc has a twelve month low of $245.12 and a twelve month high of $379.23. The stock has a market capitalization of $54.29 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 1.46 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $310.84 and its two-hundred day simple moving average is $328.53.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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