ProShare Advisors LLC Has $10.11 Million Stake in L3Harris Technologies Inc $LHX

ProShare Advisors LLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,429 shares of the company’s stock after purchasing an additional 2,779 shares during the period. ProShare Advisors LLC’s holdings in L3Harris Technologies were worth $10,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Burns J W & Co. Inc. NY increased its holdings in shares of L3Harris Technologies by 3.1% in the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after purchasing an additional 30 shares in the last quarter. American National Bank & Trust increased its holdings in shares of 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. Turtle Creek Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after purchasing an additional 31 shares in the last quarter. Rainier Family Wealth Inc. increased its holdings in shares of L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company’s stock valued at $205,000 after purchasing an additional 32 shares in the last quarter. Finally, San Luis Wealth Advisors LLC increased its holdings in shares of L3Harris Technologies by 5.1% in the fourth quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company’s stock valued at $207,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $676,781.00. Following the sale, the vice president directly owned 4,192 shares in the company, valued at $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 available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction on 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 sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,365 shares of company stock worth $5,861,117 over the last ninety days. Company insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Down 0.9%

Shares of NYSE LHX opened at $306.42 on Friday. The company’s fifty day moving average is $337.56 and its 200-day moving average is $325.14. The stock has a market cap of $57.08 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 1.56 and a beta of 0.51. L3Harris Technologies Inc has a twelve month low of $232.73 and a twelve month high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations 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 posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LHX shares. Morgan Stanley raised their price target on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.