Hendley & Co. Inc. Invests $577,000 in L3Harris Technologies Inc $LHX

Hendley & Co. Inc. acquired a new position in shares of L3Harris Technologies Inc (NYSE:LHX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,965 shares of the company’s stock, valued at approximately $577,000.

Several other large investors also recently modified their holdings of LHX. Caitlin John LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $28,000. American National Bank & Trust increased its position in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $29,000. Triumph Capital Management acquired a new stake in shares of L3Harris Technologies during the third quarter worth $31,000. Finally, GGM Financials LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $32,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. 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. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Down 1.3%

NYSE:LHX opened at $303.56 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $56.55 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.53 and a beta of 0.51. The firm has a fifty day simple moving average of $342.05 and a two-hundred day simple moving average of $324.38. L3Harris Technologies Inc has a 12 month low of $226.47 and a 12 month high of $379.23.

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

L3Harris Technologies Announces Dividend

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

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated 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 of the company’s stock, valued at approximately $1,301,406.40. The trade was 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The stock was 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 directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,365 shares of company stock valued at $5,861,117. Company insiders own 0.68% of the company’s stock.

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.