Mattern Capital Management LLC Trims Stock Holdings in L3Harris Technologies Inc $LHX

Mattern Capital Management LLC cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,741 shares of the company’s stock after selling 1,880 shares during the quarter. L3Harris Technologies makes up approximately 1.4% of Mattern Capital Management LLC’s holdings, making the stock its 12th largest holding. Mattern Capital Management LLC’s holdings in L3Harris Technologies were worth $11,991,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Allstate Corp grew its stake in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after purchasing an additional 7,219 shares in the last quarter. Jain Global LLC increased its holdings in L3Harris Technologies by 469.1% in the third quarter. Jain Global LLC now owns 45,861 shares of the company’s stock valued at $14,006,000 after buying an additional 37,803 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $907,000. Atria Investments Inc lifted its holdings in L3Harris Technologies by 77.9% during the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after buying an additional 6,482 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock worth $64,920,000 after buying an additional 41,414 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of LHX opened at $288.68 on Tuesday. The company has a market cap of $53.78 billion, a P/E ratio of 31.34, a PEG ratio of 1.47 and a beta of 0.51. The stock has a fifty day moving average price of $302.32 and a 200 day moving average price of $329.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 12 month low of $257.35 and a 12 month high of $379.23.

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 11.53 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. UBS Group decreased their target price on 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 raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Sanford C. Bernstein lowered 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. Two equities research 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 company presently has an average rating of “Moderate Buy” and an average target price of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.