Conning Inc. Reduces Stock Holdings in L3Harris Technologies Inc $LHX

Conning Inc. trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,176 shares of the company’s stock after selling 38 shares during the period. Conning Inc.’s holdings in L3Harris Technologies were worth $295,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of LHX. Nuveen LLC purchased a new stake in shares of L3Harris Technologies in the first quarter worth about $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after buying an additional 709,948 shares in the last quarter. Wellington Management Group LLP boosted its holdings in L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after buying an additional 557,610 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after buying an additional 311,886 shares in the last quarter. Finally, Appaloosa LP purchased a new stake in shares of L3Harris Technologies during the 1st quarter worth about $62,793,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 195,138 shares of company stock valued at $53,571,774 over the last quarter. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LHX. Royal Bank Of Canada increased their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Truist Financial increased their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Finally, Barclays increased their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $278.19.

L3Harris Technologies Stock Performance

NYSE LHX opened at $292.45 on Friday. The stock’s 50 day simple moving average is $281.74 and its 200-day simple moving average is $252.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $54.72 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.