L3Harris Technologies Inc $LHX Shares Sold by Burney Co.

Burney Co. lessened its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,396 shares of the company’s stock after selling 5,721 shares during the period. L3Harris Technologies comprises 0.5% of Burney Co.’s portfolio, making the stock its 29th largest position. Burney Co.’s holdings in L3Harris Technologies were worth $16,704,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LHX. Dumont & Blake Investment Advisors LLC bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $201,000. PUREfi Wealth LLC bought a new position in L3Harris Technologies during the first quarter worth $205,000. Collaborative Fund Advisors LLC bought a new position in L3Harris Technologies during the first quarter worth $552,000. Kathmere Capital Management LLC boosted its holdings in L3Harris Technologies by 34.1% in the first quarter. Kathmere Capital Management LLC now owns 2,964 shares of the company’s stock worth $1,023,000 after purchasing an additional 754 shares during the period. Finally, Abel Hall LLC acquired a new position in L3Harris Technologies in the first quarter worth $249,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on LHX shares. Sanford C. Bernstein dropped their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. UBS Group decreased their price target 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. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Price Performance

Shares of LHX opened at $301.50 on Tuesday. L3Harris Technologies Inc has a 12 month low of $250.02 and a 12 month high of $379.23. 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 stock has a fifty day moving average price of $305.85 and a 200 day moving average price of $329.18. The company has a market cap of $56.17 billion, a P/E ratio of 27.31, a PEG ratio of 1.53 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the business posted $2.41 earnings per share. The firm’s quarterly 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. On average, research analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business’s 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 directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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.