Washington Trust Bank lessened its holdings in L3Harris Technologies Inc (NYSE:LHX – Free Report) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,871 shares of the company’s stock after selling 10,901 shares during the period. Washington Trust Bank’s holdings in L3Harris Technologies were worth $12,879,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of LHX. Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares during the period. Jump Financial LLC raised its holdings in L3Harris Technologies by 14.9% in the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after acquiring an additional 388 shares during the period. NewEdge Advisors LLC raised its holdings in L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock worth $4,285,000 after acquiring an additional 2,130 shares during the period. Nebula Research & Development LLC bought a new position in L3Harris Technologies in the 2nd quarter worth $856,000. Finally, CIBC Asset Management Inc raised its holdings in L3Harris Technologies by 116.2% in the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after acquiring an additional 33,321 shares during the period. Institutional investors own 84.76% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on LHX. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Finally, Vertical Research restated a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.
Insider Activity at L3Harris Technologies
In related news, insider Samir Mehta sold 5,528 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,756 shares of the company’s stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 over the last quarter. 0.68% of the stock is owned by company insiders.
L3Harris Technologies Stock Performance
NYSE:LHX opened at $302.46 on Tuesday. The firm’s 50-day moving average is $347.15 and its 200-day moving average is $324.20. L3Harris Technologies Inc has a 52-week low of $214.10 and a 52-week high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The company has a market cap of $56.34 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 1.51 and a beta of 0.51.
L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.56 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. 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.
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