Wilmington Savings Fund Society FSB Sells 1,917 Shares of L3Harris Technologies Inc $LHX

Wilmington Savings Fund Society FSB decreased its stake in L3Harris Technologies Inc (NYSE:LHX) by 32.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,928 shares of the company’s stock after selling 1,917 shares during the period. Wilmington Savings Fund Society FSB’s holdings in L3Harris Technologies were worth $1,200,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. AGF Management Ltd. purchased a new stake in L3Harris Technologies in the second quarter worth approximately $324,940,000. Boston Partners grew its position in L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after acquiring an additional 838,546 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after acquiring an additional 766,075 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of L3Harris Technologies by 155.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after purchasing an additional 376,499 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on LHX. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Cowen restated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. BNP Paribas Exane began coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada upped their price target on shares of L3Harris Technologies from $315.00 to $360.00 and gave the company a “sector perform” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $315.73.

L3Harris Technologies Stock Up 1.9%

Shares of NYSE:LHX opened at $346.74 on Monday. The firm has a market capitalization of $64.86 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a 50 day moving average price of $295.67 and a 200-day moving average price of $285.24. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $361.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate 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.