L3Harris Technologies Inc $LHX Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,320,453 shares of the company’s stock after selling 22,372 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.71% of L3Harris Technologies worth $403,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Focus Financial Network Inc. acquired a new position in shares of L3Harris Technologies in the second quarter worth $241,000. Wedmont Private Capital increased its position in shares of L3Harris Technologies by 6.3% during the second quarter. Wedmont Private Capital now owns 1,179 shares of the company’s stock worth $305,000 after acquiring an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of L3Harris Technologies by 9.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 49,157 shares of the company’s stock valued at $12,571,000 after acquiring an additional 4,149 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in L3Harris Technologies by 2.5% in the second quarter. Exchange Traded Concepts LLC now owns 4,286 shares of the company’s stock valued at $1,075,000 after purchasing an additional 105 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on LHX. BNP Paribas Exane began coverage on L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Wall Street Zen lowered shares of L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Citigroup lifted their price target on shares of L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $315.73.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $346.74 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $361.59. The firm’s 50 day moving average is $295.67 and its two-hundred day moving average is $285.24. The firm has a market capitalization of $64.86 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.17 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

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.