WealthShield Partners LLC lowered its position in L3Harris Technologies Inc (NYSE:LHX – Free Report) by 45.5% in the 1st quarter, Holdings Channel reports. The firm owned 7,359 shares of the company’s stock after selling 6,139 shares during the quarter. WealthShield Partners LLC’s holdings in L3Harris Technologies were worth $2,540,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of LHX. Allstate Corp grew its stake in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares in the last quarter. Jain Global LLC raised its position in L3Harris Technologies by 469.1% during the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company’s stock valued at $14,006,000 after purchasing an additional 37,803 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in L3Harris Technologies during the 4th quarter valued at $907,000. Atria Investments Inc lifted its holdings in shares of L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after buying an additional 6,482 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after buying an additional 190,955 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on LHX shares. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. UBS Group dropped their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.
Insider Buying and Selling at L3Harris Technologies
In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.
L3Harris Technologies Stock Up 0.4%
Shares of LHX traded up $1.04 during trading hours on Friday, hitting $290.91. The company had a trading volume of 626,453 shares, compared to its average volume of 1,501,537. The company has a market capitalization of $54.19 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. 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 one year low of $257.35 and a one year high of $379.23. The company’s fifty day moving average price is $302.97 and its two-hundred day moving average price is $329.25.
L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating 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 company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the company earned $2.41 earnings per share. The firm’s revenue for the quarter 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. As a group, equities analysts forecast 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. Shareholders of record on Friday, June 5th were given 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 presently 54.29%.
L3Harris Technologies 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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