PNC Financial Services Group Inc. Has $34.75 Million Position in L3Harris Technologies Inc $LHX

PNC Financial Services Group Inc. raised its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 100,684 shares of the company’s stock after acquiring an additional 4,791 shares during the period. PNC Financial Services Group Inc.’s holdings in L3Harris Technologies were worth $34,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LHX. Artisan Partners Limited Partnership grew its holdings in shares of L3Harris Technologies by 174.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after buying an additional 1,207,334 shares in the last quarter. Two Sigma Investments LP lifted its stake in L3Harris Technologies by 560.7% in the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after acquiring an additional 521,312 shares in the last quarter. Boston Partners lifted its stake in L3Harris Technologies by 27.6% in the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after acquiring an additional 519,226 shares in the last quarter. M&T Bank Corp boosted its position in L3Harris Technologies by 3,127.8% during the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after acquiring an additional 396,077 shares during the period. Finally, Diamant Asset Management Inc. boosted its position in L3Harris Technologies by 34,415.0% during the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock worth $123,298,000 after acquiring an additional 356,195 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the firm’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 transaction of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

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

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $299.83 on Friday. The business’s 50-day moving average price is $299.43 and its two-hundred day moving average price is $328.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a one year low of $262.98 and a one year high of $379.23. The company has a market capitalization of $55.86 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share 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 company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the firm posted $2.41 EPS. The business’s revenue 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. Analysts anticipate that L3Harris Technologies Inc will post 11.54 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

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.