Schwartz Investment Counsel Inc. Has $41.62 Million Position in L3Harris Technologies Inc $LHX

Schwartz Investment Counsel Inc. reduced its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 7.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 120,575 shares of the company’s stock after selling 10,400 shares during the quarter. L3Harris Technologies makes up 1.5% of Schwartz Investment Counsel Inc.’s investment portfolio, making the stock its 25th largest holding. Schwartz Investment Counsel Inc.’s holdings in L3Harris Technologies were worth $41,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Artisan Partners Limited Partnership grew its stake in shares of L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock worth $557,933,000 after acquiring an additional 1,207,334 shares during the last quarter. Two Sigma Investments LP raised its position in shares of L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after buying an additional 521,312 shares during the last quarter. Boston Partners lifted its stake in shares of L3Harris Technologies by 27.6% in the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after buying an additional 519,226 shares during the period. M&T Bank Corp lifted its stake in shares of L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock valued at $119,994,000 after buying an additional 396,077 shares during the period. Finally, Diamant Asset Management Inc. grew its position in L3Harris Technologies by 34,415.0% during the first quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock worth $123,298,000 after buying an additional 356,195 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LHX shares. Sanford C. Bernstein lowered their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, UBS Group lowered their price objective on 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 analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $354.75.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $288.68 on Tuesday. The stock has a 50-day simple moving average of $302.32 and a 200 day simple moving average of $329.43. 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 Inc has a 12-month low of $257.35 and a 12-month high of $379.23. The stock has a market capitalization of $53.78 billion, a price-to-earnings ratio of 31.34, a P/E/G ratio of 1.47 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. L3Harris Technologies’s 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. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s dividend payout ratio 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.