Conning Inc. Trims Stake in L3Harris Technologies Inc $LHX

Conning Inc. reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176 shares of the company’s stock after selling 38 shares during the quarter. Conning Inc.’s holdings in L3Harris Technologies were worth $295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new position in L3Harris Technologies during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new position in L3Harris Technologies during the first quarter valued at approximately $26,000. Beacon Capital Management LLC increased its holdings in L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Independence Bank of Kentucky increased its holdings in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LHX has been the topic of a number of analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Barclays lifted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Robert W. Baird lifted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Susquehanna lifted their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $292.45 on Friday. The firm has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock’s 50-day simple moving average is $281.74 and its 200-day simple moving average is $252.94.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. L3Harris Technologies’s payout ratio is 53.63%.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.