L3Harris Technologies Inc $LHX Shares Sold by Washington Trust Bank

Washington Trust Bank lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,732 shares of the company’s stock after selling 2,606 shares during the quarter. Washington Trust Bank’s holdings in L3Harris Technologies were worth $10,383,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LHX. BlackRock Inc. purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $5,525,806,000. Capital World Investors grew its position in shares of L3Harris Technologies by 2.9% during the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after acquiring an additional 329,910 shares during the last quarter. State Street Corp increased its holdings in shares of L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the period. Geode Capital Management LLC increased its holdings in shares of L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock valued at $1,505,444,000 after acquiring an additional 106,430 shares during the period. Finally, Wellington Management Group LLP raised its position in L3Harris Technologies by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock valued at $1,367,832,000 after purchasing an additional 313,431 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $263.31 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a fifty day moving average price of $285.55 and a 200 day moving average price of $317.80. L3Harris Technologies Inc has a 1-year low of $258.54 and a 1-year high of $379.23. The company has a market cap of $49.03 billion, a PE ratio of 26.60, a P/E/G ratio of 1.14 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. L3Harris Technologies’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s payout ratio is 50.51%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LHX shares. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. UBS Group reduced their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Sanford C. Bernstein decreased their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Wednesday. Finally, Susquehanna lowered their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $360.45.

L3Harris Technologies Company 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.