Saranac Partners Ltd Sells 2,075 Shares of L3Harris Technologies Inc $LHX

Saranac Partners Ltd cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 42.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,797 shares of the company’s stock after selling 2,075 shares during the period. Saranac Partners Ltd’s holdings in L3Harris Technologies were worth $821,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Caitlin John LLC bought a new stake in L3Harris Technologies during the 3rd quarter valued at approximately $28,000. American National Bank & Trust lifted its holdings in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $29,000. Triumph Capital Management bought a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $31,000. Finally, GGM Financials LLC acquired a new stake in shares of L3Harris Technologies in the third quarter worth $32,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.0%

LHX opened at $307.95 on Wednesday. The company has a market capitalization of $57.37 billion, a P/E ratio of 33.44, a P/E/G ratio of 1.57 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The firm’s fifty day moving average price is $339.90 and its two-hundred day moving average price is $324.93. L3Harris Technologies Inc has a fifty-two week low of $229.10 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts anticipate that L3Harris Technologies Inc will post 11.57 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 54.29%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider directly owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. This represents a 41.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This trade represents a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,365 shares of company stock valued at $5,861,117. 0.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on LHX shares. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Sanford C. Bernstein decreased 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. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Two equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

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.