Bank of New York Mellon Corp Sells 81,112 Shares of L3Harris Technologies Inc $LHX

Bank of New York Mellon Corp reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,884,616 shares of the company’s stock after selling 81,112 shares during the quarter. Bank of New York Mellon Corp’s holdings in L3Harris Technologies were worth $1,140,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Brighton Jones LLC grew its stake in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares during the last quarter. Jump Financial LLC grew its stake in L3Harris Technologies by 14.9% in the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after purchasing an additional 388 shares during the last quarter. NewEdge Advisors LLC grew its stake in L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after purchasing an additional 2,130 shares during the last quarter. Nebula Research & Development LLC purchased a new position in L3Harris Technologies in the second quarter valued at about $856,000. Finally, CIBC Asset Management Inc grew its stake in L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after purchasing an additional 33,321 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several analyst reports. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. UBS Group dropped their price target on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Citigroup boosted their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Sanford C. Bernstein dropped their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Finally, Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note 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 issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Buying and Selling

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 stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $308.26 on Wednesday. L3Harris Technologies Inc has a fifty-two week low of $237.56 and a fifty-two week high of $379.23. The firm has a market capitalization of $57.43 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.56 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The stock’s 50-day simple moving average is $330.34 and its 200-day simple moving average is $326.17.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion for 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%.L3Harris Technologies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $1.25 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. 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.