Gamco Investors INC. ET AL Sells 1,805 Shares of L3Harris Technologies Inc $LHX

Gamco Investors INC. ET AL cut its stake in L3Harris Technologies Inc (NYSE:LHX) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,060 shares of the company’s stock after selling 1,805 shares during the period. Gamco Investors INC. ET AL’s holdings in L3Harris Technologies were worth $19,004,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC raised its position in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Tower View Wealth Management LLC purchased a new stake in L3Harris Technologies in the first quarter worth $29,000. Fideuram Asset Management Ireland dac purchased a new stake in L3Harris Technologies in the fourth quarter worth $25,000. Finally, Motiv8 Investments LLC bought a new position in L3Harris Technologies in the fourth quarter worth $25,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on LHX shares. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. UBS Group dropped 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. Finally, Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $361.70.

L3Harris Technologies Stock Up 0.1%

Shares of NYSE:LHX opened at $300.08 on Friday. 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 fifty day simple moving average of $299.36 and a two-hundred day simple moving average of $328.58. L3Harris Technologies Inc has a 12-month low of $262.98 and a 12-month high of $379.23. The stock has a market capitalization of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.52 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping 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 firm had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the firm posted $2.41 earnings per share. The company’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. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.54 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’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. This trade represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.