Bessemer Group Inc. Purchases 4,081 Shares of L3Harris Technologies Inc $LHX

Bessemer Group Inc. raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.7% in the first quarter, HoldingsChannel reports. The firm owned 570,007 shares of the company’s stock after buying an additional 4,081 shares during the quarter. Bessemer Group Inc.’s holdings in L3Harris Technologies were worth $196,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allstate Corp grew its holdings in L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after purchasing an additional 7,219 shares during the period. Whalen Wealth Management Inc. bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $907,000. Atria Investments Inc lifted its position in shares of L3Harris Technologies by 77.9% during the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock valued at $4,345,000 after buying an additional 6,482 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after acquiring an additional 190,955 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock valued at $64,920,000 after acquiring an additional 41,414 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LHX shares. Sanford C. Bernstein decreased 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. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, UBS Group dropped their target price 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 equities 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 company. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies 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 completion of the transaction, the vice president directly 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 sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $284.19 on Friday. The company has a market cap of $52.94 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.45 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $260.22 and a 1 year high of $379.23. The stock’s 50 day simple moving average is $301.41 and its two-hundred day simple moving average is $329.19. 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 (NYSE:LHX) last posted its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating 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 the consensus estimate of $5.42 billion. During the same period in the prior year, the company earned $2.41 EPS. The company’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, equities analysts anticipate that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

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.