L3Harris Technologies Inc $LHX Stake Lessened by Aljian Capital Management LLC

Aljian Capital Management LLC lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 23.4% during the first quarter, Holdings Channel.com reports. The fund owned 7,427 shares of the company’s stock after selling 2,267 shares during the period. L3Harris Technologies accounts for about 0.5% of Aljian Capital Management LLC’s holdings, making the stock its 24th biggest holding. Aljian Capital Management LLC’s holdings in L3Harris Technologies were worth $2,563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its stake in L3Harris Technologies by 174.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after purchasing an additional 1,207,334 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock valued at $187,609,000 after buying an additional 521,312 shares during the period. Boston Partners boosted its stake in L3Harris Technologies by 27.6% during the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock valued at $709,396,000 after buying an additional 519,226 shares in the last quarter. M&T Bank Corp boosted its stake in L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock valued at $119,994,000 after buying an additional 396,077 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in L3Harris Technologies by 34,415.0% during the first 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 own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the 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 transaction, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, UBS Group decreased their price target on shares of 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 MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Down 2.1%

LHX stock opened at $294.91 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The firm has a market capitalization of $54.94 billion, a P/E ratio of 32.02, a P/E/G ratio of 1.52 and a beta of 0.51. L3Harris Technologies Inc has a 52-week low of $254.12 and a 52-week high of $379.23. The company’s 50 day simple moving average is $304.83 and its 200-day simple moving average is $329.43.

L3Harris Technologies (NYSE:LHX) last announced 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. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities research analysts anticipate that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

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

L3Harris Technologies 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.