L3Harris Technologies Inc $LHX Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in L3Harris Technologies Inc (NYSE:LHX) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 1,320,453 shares of the company’s stock after selling 22,372 shares during the period. Massachusetts Financial Services Co. MA’s holdings in L3Harris Technologies were worth $403,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. AGF Management Ltd. acquired a new stake in shares of L3Harris Technologies during the second quarter worth about $324,940,000. Boston Partners grew its holdings in shares of L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after buying an additional 838,546 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of L3Harris Technologies by 8,284.6% during the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after buying an additional 766,075 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in L3Harris Technologies by 155.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after acquiring an additional 376,499 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Stock Up 1.9%

LHX opened at $346.74 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $361.59. The stock has a market capitalization of $64.86 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.17 and a beta of 0.66. The business has a 50 day simple moving average of $295.67 and a 200-day simple moving average of $285.24.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business posted $3.34 earnings per share. L3Harris Technologies’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on LHX shares. BNP Paribas Exane initiated coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective for the company. Vertical Research restated a “buy” rating and set a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Citigroup increased their price target on L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Cowen reiterated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, Royal Bank Of Canada upped their price objective on shares of L3Harris Technologies from $315.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.73.

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.