Rakuten Investment Management Inc. Has $7.28 Million Position in L3Harris Technologies Inc $LHX

Rakuten Investment Management Inc. reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 88.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,609 shares of the company’s stock after selling 194,270 shares during the quarter. Rakuten Investment Management Inc.’s holdings in L3Harris Technologies were worth $7,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LHX. Victory Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after purchasing an additional 1,079,474 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of L3Harris Technologies during the third quarter worth $211,703,000. Two Sigma Investments LP grew its holdings 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 worth $187,609,000 after purchasing an additional 521,312 shares during the last quarter. Boston Partners grew its holdings in shares of L3Harris Technologies by 27.6% during the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of several research analyst reports. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. UBS Group decreased their price target on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings upgraded L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business’s stock in a transaction that occurred 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 owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction 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. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $310.95 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 1 year low of $243.84 and a 1 year high of $379.23. The stock has a market cap of $57.93 billion, a P/E ratio of 33.76, a price-to-earnings-growth ratio of 1.54 and a beta of 0.50. The stock’s 50-day moving average price is $320.96 and its two-hundred day moving average price is $327.93.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter last year, the business earned $2.41 earnings per share. The company’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, equities analysts predict that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

L3Harris Technologies Company 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.