Strs Ohio lessened its stake in L3Harris Technologies Inc (NYSE:LHX – Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,167 shares of the company’s stock after selling 7,207 shares during the period. Strs Ohio’s holdings in L3Harris Technologies were worth $36,644,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in LHX. Korea Investment CORP grew its holdings in L3Harris Technologies by 11.2% during the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after acquiring an additional 15,408 shares in the last quarter. Allstate Corp raised its holdings in shares of L3Harris Technologies by 106.7% in the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after purchasing an additional 7,219 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $1,203,000. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $72,446,000. Finally, Jain Global LLC lifted its position in shares of L3Harris Technologies by 469.1% in the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company’s stock worth $14,006,000 after purchasing an additional 37,803 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. UBS Group cut 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. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein reduced their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.75.
L3Harris Technologies Price Performance
NYSE:LHX opened at $301.23 on Friday. The firm’s fifty day moving average is $305.85 and its two-hundred day moving average is $328.90. The firm has a market cap of $56.12 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 1.53 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a one year low of $250.02 and a one year high of $379.23.
L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share 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 firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period in the previous year, the firm earned $2.41 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current year.
L3Harris Technologies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.
Insiders Place Their Bets
In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.
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.
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