L3Harris Technologies Inc $LHX Shares Sold by Conning Inc.

Conning Inc. cut its position in L3Harris Technologies Inc (NYSE:LHX) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 110,241 shares of the company’s stock after selling 5,199 shares during the quarter. Conning Inc.’s holdings in L3Harris Technologies were worth $32,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in L3Harris Technologies by 1,053.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after buying an additional 1,079,474 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of L3Harris Technologies in the third quarter worth about $211,703,000. Two Sigma Investments LP grew its stake in L3Harris Technologies by 560.7% during the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after purchasing an additional 521,312 shares in the last quarter. M&T Bank Corp increased its holdings in L3Harris Technologies by 3,127.8% during the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of L3Harris Technologies by 42.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company’s stock valued at $336,343,000 after purchasing an additional 325,963 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several research analyst reports. UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Citigroup upped their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Morgan Stanley boosted their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Performance

LHX stock opened at $307.41 on Friday. The stock’s 50 day simple moving average is $343.35 and its 200 day simple moving average is $324.52. L3Harris Technologies Inc has a 12-month low of $220.87 and a 12-month high of $379.23. The firm has a market cap of $57.27 billion, a P/E ratio of 33.38, a P/E/G ratio of 1.54 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data 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 net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the company posted $2.41 earnings per share. The firm’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. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.57 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,660 shares in the company, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,365 shares of company stock valued at $5,861,117 in the last quarter. Insiders own 0.68% of the company’s stock.

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.