Sanctuary Advisors LLC Grows Position in L3Harris Technologies Inc $LHX

Sanctuary Advisors LLC boosted its stake in L3Harris Technologies Inc (NYSE:LHX) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,145 shares of the company’s stock after purchasing an additional 4,202 shares during the quarter. Sanctuary Advisors LLC’s holdings in L3Harris Technologies were worth $14,201,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp boosted its stake in L3Harris Technologies by 14.4% during the first quarter. Sigma Planning Corp now owns 2,279 shares of the company’s stock valued at $786,000 after buying an additional 286 shares during the last quarter. Cornerstone Advisory LLC purchased a new position in L3Harris Technologies during the 1st quarter valued at approximately $291,000. Adell Harriman & Carpenter Inc. increased its stake in L3Harris Technologies by 14.0% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 10,338 shares of the company’s stock worth $3,568,000 after acquiring an additional 1,269 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of L3Harris Technologies by 15.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,994 shares of the company’s stock worth $688,000 after acquiring an additional 261 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of L3Harris Technologies by 1.4% during the 1st quarter. Maryland State Retirement & Pension System now owns 9,369 shares of the company’s stock worth $3,234,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction 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 in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LHX. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Sanford C. Bernstein lowered their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. UBS Group dropped their price objective 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. Finally, Truist Financial upgraded shares of 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 given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $284.19 on Friday. 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 firm has a market capitalization of $52.94 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.45 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $260.22 and a 1-year high of $379.23. The company’s 50-day moving average is $301.41 and its 200 day moving average is $329.19.

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

L3Harris Technologies Dividend Announcement

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

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.