Allspring Global Investments Holdings LLC Sells 146,413 Shares of L3Harris Technologies Inc $LHX

Allspring Global Investments Holdings LLC trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 27.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 381,177 shares of the company’s stock after selling 146,413 shares during the period. Allspring Global Investments Holdings LLC owned about 0.20% of L3Harris Technologies worth $134,902,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth about $25,000. American National Bank & Trust grew its holdings in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares in the last quarter. Finally, Cedar Mountain Advisors LLC grew its holdings in shares of L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 74 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group cut their target price 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. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note 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 report 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, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Trading Down 0.9%

Shares of L3Harris Technologies stock opened at $284.19 on Friday. The stock has a market cap of $52.94 billion, a P/E ratio of 30.86, a P/E/G ratio of 1.45 and a beta of 0.51. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 12-month low of $260.22 and a 12-month high of $379.23. The business’s 50 day moving average is $301.41 and its 200-day moving average is $329.19.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is presently 54.29%.

Insider Activity

In related news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

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.