L3Harris Technologies Inc $LHX Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,551 shares of the company’s stock after selling 122 shares during the quarter. Wesbanco Bank Inc.’s holdings in L3Harris Technologies were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth $299,157,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after buying an additional 709,948 shares during the period. Wellington Management Group LLP grew its holdings in shares of L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after buying an additional 557,610 shares during the last quarter. GAMMA Investing LLC increased its position in L3Harris Technologies by 18,295.3% in the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after acquiring an additional 510,438 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after acquiring an additional 311,886 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $279.47.

L3Harris Technologies Stock Down 0.5%

Shares of NYSE:LHX opened at $279.22 on Monday. The company has a market capitalization of $52.24 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76. The company has a 50 day moving average of $271.08 and a two-hundred day moving average of $241.91. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $281.67. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies’s payout ratio is presently 53.63%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 in the last 90 days. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Profile

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.