L3Harris Technologies Inc $LHX Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC decreased its position in L3Harris Technologies Inc (NYSE:LHX) by 63.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,374 shares of the company’s stock after selling 2,412 shares during the period. Sowell Financial Services LLC’s holdings in L3Harris Technologies were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in L3Harris Technologies in the second quarter worth about $5,525,806,000. Bank of New York Mellon Corp purchased a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $752,983,000. Deutsche Bank AG purchased a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $174,006,000. Man Group plc grew its holdings in shares of L3Harris Technologies by 5,286.7% during the second quarter. Man Group plc now owns 563,720 shares of the company’s stock valued at $163,811,000 after buying an additional 553,255 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of L3Harris Technologies during the second quarter valued at approximately $144,100,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $260.14 on Tuesday. The firm has a market capitalization of $48.44 billion, a P/E ratio of 26.28, a PEG ratio of 1.59 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. L3Harris Technologies Inc has a one year low of $232.34 and a one year high of $379.23. The business has a fifty day moving average of $251.02 and a 200 day moving average of $306.52.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. L3Harris Technologies’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.89 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein decreased their price objective on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Weiss Ratings lowered L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 10th. TD Cowen dropped their price objective on L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Melius Research cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, UBS Group reduced their price objective on L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $341.71.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.