Diamant Asset Management Inc. Buys 356,195 Shares of L3Harris Technologies Inc $LHX

Diamant Asset Management Inc. lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 34,415.0% during the first quarter, HoldingsChannel.com reports. The fund owned 357,230 shares of the company’s stock after buying an additional 356,195 shares during the quarter. Diamant Asset Management Inc.’s holdings in L3Harris Technologies were worth $123,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Caldwell Trust Co boosted its holdings in shares of L3Harris Technologies by 216.3% in the first quarter. Caldwell Trust Co now owns 3,593 shares of the company’s stock valued at $1,240,000 after purchasing an additional 2,457 shares during the period. Cornerstone Wealth Group LLC increased its holdings in L3Harris Technologies by 6.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 1,137 shares of the company’s stock worth $387,000 after purchasing an additional 64 shares during the period. Goodman Advisory Group LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $210,000. Fort Washington Investment Advisors Inc. OH bought a new stake in L3Harris Technologies during the 1st quarter valued at $205,000. Finally, WMS Group LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter worth $701,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 1.0%

Shares of NYSE:LHX opened at $291.45 on Friday. The company has a market capitalization of $54.29 billion, a PE ratio of 31.65, a P/E/G ratio of 1.47 and a beta of 0.50. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 12-month low of $245.12 and a 12-month high of $379.23. The business’s fifty day simple moving average is $310.84 and its 200-day simple moving average is $328.53.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share 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 firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the business posted $2.41 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.

Insider Activity

In related news, 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 completion of the transaction, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LHX shares. Sanford C. Bernstein dropped their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report 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. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. 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 report on Friday, May 1st. Two investment 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’s stock. According to MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $354.75.

About L3Harris Technologies

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.