SFE Investment Counsel lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX – Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,672 shares of the company’s stock after selling 2,227 shares during the period. L3Harris Technologies comprises 1.3% of SFE Investment Counsel’s holdings, making the stock its 26th largest holding. SFE Investment Counsel’s holdings in L3Harris Technologies were worth $8,170,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in 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 valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. Jump Financial LLC grew its holdings in shares of L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock worth $751,000 after purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock worth $4,285,000 after purchasing an additional 2,130 shares during the period. Nebula Research & Development LLC bought a new position in shares of L3Harris Technologies in the second quarter worth $856,000. Finally, CIBC Asset Management Inc raised its stake in L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after purchasing an additional 33,321 shares in the last quarter. 84.76% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LHX has been the subject of several recent analyst reports. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein reduced their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Finally, UBS Group decreased their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $354.75.
Insider Buying and Selling
In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Price Performance
NYSE:LHX traded up $1.04 on Friday, hitting $290.91. The company had a trading volume of 626,453 shares, compared to its average volume of 1,501,537. L3Harris Technologies Inc has a 52 week low of $257.35 and a 52 week high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $54.19 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.47 and a beta of 0.51. The firm has a 50 day moving average of $302.97 and a two-hundred day moving average of $329.25.
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, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The company’s 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. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a 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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