Adell Harriman & Carpenter Inc. Grows Stake in L3Harris Technologies Inc $LHX

Adell Harriman & Carpenter Inc. increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 22.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,069 shares of the company’s stock after buying an additional 1,665 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in L3Harris Technologies were worth $2,663,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LHX. Brighton Jones LLC raised its position in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC raised its holdings in shares of L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after buying an additional 388 shares in the last quarter. NewEdge Advisors LLC lifted its position in L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock worth $4,285,000 after buying an additional 2,130 shares during the last quarter. Nebula Research & Development LLC bought a new stake in L3Harris Technologies in the 2nd quarter worth approximately $856,000. Finally, CIBC Asset Management Inc boosted its stake in L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after buying an additional 33,321 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $307.95 on Wednesday. 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 Inc has a 52-week low of $229.10 and a 52-week high of $379.23. The stock has a market capitalization of $57.37 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 1.57 and a beta of 0.51. The stock’s 50 day moving average price is $339.90 and its 200-day moving average price is $324.93.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.57 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the company’s 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 sale, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares in the company, valued at $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LHX. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Royal Bank Of Canada upped their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.