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

Allspring Global Investments Holdings LLC reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 27.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 381,177 shares of the company’s stock after selling 146,413 shares during the period. Allspring Global Investments Holdings LLC’s holdings in L3Harris Technologies were worth $134,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in L3Harris Technologies in the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at about $25,000. American National Bank & Trust raised its holdings in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after acquiring an additional 30 shares during the period. Finally, Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after acquiring an additional 74 shares during the period. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LHX shares. UBS Group reduced their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Sanford C. Bernstein dropped their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a 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 issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $354.75.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was 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 directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $284.19 on Friday. The company’s 50 day moving average price is $301.41 and its two-hundred day moving average price is $329.19. L3Harris Technologies Inc has a 12-month low of $260.22 and a 12-month high of $379.23. The firm has a market cap of $52.94 billion, a PE ratio of 30.86, a PEG 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 (NYSE:LHX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) 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 return on equity of 10.65% and a net margin of 7.71%.The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $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 year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.8%. 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.