L3Harris Technologies Inc $LHX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 23.1% during the 1st quarter, Holdings Channel reports. The firm owned 2,989,190 shares of the company’s stock after selling 895,426 shares during the period. Bank of New York Mellon Corp’s holdings in L3Harris Technologies were worth $1,031,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LHX. Fideuram Asset Management Ireland dac acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $25,000. Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $25,000. American National Bank & Trust raised its holdings in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.1%

NYSE LHX opened at $286.74 on Thursday. The firm’s 50 day moving average price is $301.75 and its two-hundred day moving average price is $329.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a twelve month low of $260.22 and a twelve month high of $379.23. The stock has a market cap of $53.42 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.47 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.53 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

Analyst Ratings Changes

LHX has been the subject of a number of research reports. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, UBS Group cut their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Company 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.