Legato Capital Management LLC Invests $2.20 Million in L3Harris Technologies Inc $LHX

Legato Capital Management LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the company’s stock, valued at approximately $2,202,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after purchasing an additional 190,955 shares in the last quarter. Bank of America Corp DE lifted its position in shares of L3Harris Technologies by 3.1% during the second quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after purchasing an additional 52,776 shares in the last quarter. Capital Research Global Investors lifted its position in shares of L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after purchasing an additional 312,846 shares in the last quarter. AGF Management Ltd. increased its stake in shares of L3Harris Technologies by 15.9% during the third quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock worth $458,386,000 after buying an additional 205,479 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of L3Harris Technologies by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,440,599 shares of the company’s stock worth $439,920,000 after buying an additional 35,951 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $312.12 on Friday. The company has a market capitalization of $58.15 billion, a P/E ratio of 33.89, a PEG ratio of 1.58 and a beta of 0.51. L3Harris Technologies Inc has a twelve month low of $235.72 and a twelve month high of $379.23. The business has a 50 day simple moving average of $336.51 and a 200-day simple moving average of $325.05. 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 (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 16,365 shares of company stock worth $5,861,117. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Finally, UBS Group cut their target price 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. Two research 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 stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

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.