Louisiana State Employees Retirement System Buys Shares of 9,500 L3Harris Technologies Inc $LHX

Louisiana State Employees Retirement System bought a new stake in L3Harris Technologies Inc (NYSE:LHX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,500 shares of the company’s stock, valued at approximately $3,279,000.

Other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies in the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $25,000. Caitlin John LLC acquired a new stake in L3Harris Technologies during the third quarter valued at $28,000. Finally, American National Bank & Trust grew its stake in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of LHX opened at $291.45 on Friday. The company has a market capitalization of $54.29 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a one year low of $245.12 and a one year high of $379.23. The company’s fifty day moving average price is $310.84 and its 200 day moving average price is $328.53.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company 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 company earned $2.41 earnings per share. The business’s quarterly revenue 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. As a group, analysts expect 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 dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is 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 on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, 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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LHX shares. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. UBS Group cut their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Sanford C. Bernstein reduced their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

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.