L3Harris Technologies Inc $LHX Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,197 shares of the company’s stock after selling 237 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in L3Harris Technologies were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the first quarter valued at about $26,000. Beacon Capital Management LLC increased its holdings in shares of L3Harris Technologies by 79.5% in the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Park Square Financial Group LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of L3Harris Technologies by 323.3% in the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 195,138 shares of company stock valued at $53,571,774 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

NYSE LHX opened at $281.76 on Tuesday. The company has a market cap of $52.72 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76. The stock’s 50 day simple moving average is $271.59 and its 200-day simple moving average is $242.44. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $282.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last released 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. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company 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 $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LHX. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Barclays increased their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Finally, Truist Financial upped their target price on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $279.47.

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.