Conning Inc. Cuts Position in L3Harris Technologies Inc $LHX

Conning Inc. decreased its position in L3Harris Technologies Inc (NYSE:LHX) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,540 shares of the company’s stock after selling 13,701 shares during the quarter. Conning Inc. owned 0.05% of L3Harris Technologies worth $33,321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently 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 $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at $25,000. American National Bank & Trust lifted its holdings in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares during the last quarter. Finally, Cedar Mountain Advisors LLC lifted its holdings in L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In other 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, 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 research analysts have recently commented on the company. Sanford C. Bernstein dropped their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. UBS Group reduced their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Up 0.4%

LHX opened at $290.91 on Friday. 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 52 week low of $257.35 and a 52 week high of $379.23. The business’s 50 day moving average is $302.97 and its two-hundred day moving average is $329.25. The firm has a market cap of $54.19 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $1.25 dividend. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s payout ratio is currently 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.