L3Harris Technologies Inc $LHX Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 126,789 shares of the company’s stock after selling 3,230 shares during the period. TD Asset Management Inc owned about 0.07% of L3Harris Technologies worth $37,221,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Korea Investment CORP raised its position in L3Harris Technologies by 11.2% during the third quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after acquiring an additional 15,408 shares during the period. Allstate Corp grew its holdings in shares of L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after buying an additional 7,219 shares in the last quarter. Crystal Rock Capital Management purchased a new stake in shares of L3Harris Technologies during the third quarter worth $1,993,000. Neo Ivy Capital Management purchased a new stake in shares of L3Harris Technologies during the third quarter worth $1,203,000. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of L3Harris Technologies during the third quarter worth $72,446,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $307.99 on Friday. L3Harris Technologies Inc has a 12-month low of $237.56 and a 12-month high of $379.23. The stock has a market cap of $57.37 billion, a P/E ratio of 33.44, a PEG ratio of 1.56 and a beta of 0.50. The company has a 50-day moving average price of $326.90 and a 200 day moving average price of $326.35. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last released 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 net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the business earned $2.41 earnings per share. L3Harris Technologies’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. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. UBS Group dropped their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Sanford C. Bernstein dropped their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Two 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, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insiders Place Their Bets

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

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.