L3Harris Technologies Inc $LHX Stock Position Cut by Mattern Capital Management LLC

Mattern Capital Management LLC decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 34,741 shares of the company’s stock after selling 1,880 shares during the period. L3Harris Technologies comprises approximately 1.4% of Mattern Capital Management LLC’s holdings, making the stock its 12th largest position. Mattern Capital Management LLC’s holdings in L3Harris Technologies were worth $11,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of L3Harris Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after acquiring an additional 190,955 shares in the last quarter. Capital World Investors raised its holdings in L3Harris Technologies by 2.9% during the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after purchasing an additional 329,910 shares in the last quarter. State Street Corp raised its holdings in L3Harris Technologies by 1.6% during the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Geode Capital Management LLC lifted its position in L3Harris Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after purchasing an additional 106,430 shares during the period. Finally, Morgan Stanley boosted its stake in L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after purchasing an additional 124,797 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Trading Down 0.7%

NYSE:LHX opened at $288.68 on Tuesday. The stock has a fifty day simple moving average of $302.32 and a 200 day simple moving average of $329.43. The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $257.35 and a 1-year high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the previous year, the company earned $2.41 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is currently 54.29%.

Insider Activity

In related news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LHX shares. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. UBS Group decreased 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. Sanford C. Bernstein lowered their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Finally, Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

About L3Harris Technologies

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.