Caldwell Trust Co Acquires 2,457 Shares of L3Harris Technologies Inc $LHX

Caldwell Trust Co raised its holdings in L3Harris Technologies Inc (NYSE:LHX) by 216.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,593 shares of the company’s stock after purchasing an additional 2,457 shares during the period. Caldwell Trust Co’s holdings in L3Harris Technologies were worth $1,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LHX. Cornerstone Wealth Group LLC raised its position in shares of L3Harris Technologies by 6.0% in the first quarter. Cornerstone Wealth Group LLC now owns 1,137 shares of the company’s stock valued at $387,000 after buying an additional 64 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in L3Harris Technologies during the first quarter worth approximately $210,000. Fort Washington Investment Advisors Inc. OH bought a new position in L3Harris Technologies during the 1st quarter worth $205,000. WMS Group LLC bought a new position in L3Harris Technologies during the 1st quarter worth $701,000. Finally, Wesbanco Bank Inc. raised its holdings in L3Harris Technologies by 2.9% in the 1st quarter. Wesbanco Bank Inc. now owns 5,057 shares of the company’s stock valued at $1,745,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Sanford C. Bernstein cut their price objective on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research 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. Finally, Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

Insider Buying and Selling

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 value of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Trading Up 1.0%

Shares of LHX stock opened at $291.45 on Friday. The stock’s fifty day moving average price is $310.84 and its two-hundred day moving average price is $328.53. The company has a market cap of $54.29 billion, a PE ratio of 31.65, a P/E/G ratio of 1.47 and a beta of 0.50. L3Harris Technologies Inc has a fifty-two week low of $245.12 and a fifty-two week high of $379.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the firm earned $2.41 EPS. L3Harris Technologies’s revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies’s payout ratio is presently 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.