SummitTX Capital L.P. Buys New Stake in L3Harris Technologies Inc $LHX

SummitTX Capital L.P. bought a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the first quarter, HoldingsChannel reports. The fund bought 33,849 shares of the company’s stock, valued at approximately $11,683,000.

Several other hedge funds also recently bought and sold shares of LHX. Artisan Partners Limited Partnership raised its holdings in shares of L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock worth $557,933,000 after acquiring an additional 1,207,334 shares during the last quarter. Two Sigma Investments LP increased its position in L3Harris Technologies by 560.7% during 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 in the last quarter. Boston Partners increased its position in L3Harris Technologies by 27.6% during the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares in the last quarter. M&T Bank Corp raised its stake 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 valued at $119,994,000 after purchasing an additional 396,077 shares during the last quarter. Finally, Diamant Asset Management Inc. lifted its holdings in L3Harris Technologies by 34,415.0% in the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock valued at $123,298,000 after purchasing an additional 356,195 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $300.08 on Monday. L3Harris Technologies Inc has a 1 year low of $262.98 and a 1 year high of $379.23. The company’s 50 day simple moving average is $299.36 and its 200 day simple moving average is $328.70. The stock has a market capitalization of $55.90 billion, a PE ratio of 32.58, a P/E/G ratio of 1.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 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%. L3Harris Technologies’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.54 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

Insider Buying and Selling at L3Harris Technologies

In related 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 value of $676,781.00. Following the transaction, the vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of several analyst reports. UBS Group decreased their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $361.70.

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.