L3Harris Technologies Inc $LHX Stock Position Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,684 shares of the company’s stock after buying an additional 4,791 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of L3Harris Technologies worth $34,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its stake in shares of L3Harris Technologies by 174.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after acquiring an additional 1,207,334 shares during the period. Two Sigma Investments LP lifted its position in L3Harris Technologies by 560.7% in the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after purchasing an additional 521,312 shares during the period. Boston Partners lifted its position in L3Harris Technologies by 27.6% in the fourth quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after purchasing an additional 519,226 shares during the period. M&T Bank Corp boosted its stake in L3Harris Technologies by 3,127.8% during the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock valued at $119,994,000 after purchasing an additional 396,077 shares in the last quarter. Finally, Diamant Asset Management Inc. boosted its stake in L3Harris Technologies by 34,415.0% during the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock valued at $123,298,000 after purchasing an additional 356,195 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on LHX shares. UBS Group dropped their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Sanford C. Bernstein decreased their target price on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $299.83 on Friday. L3Harris Technologies Inc has a one year low of $262.98 and a one year high of $379.23. The stock has a fifty day moving average of $299.43 and a 200-day moving average of $328.78. The company has a market capitalization of $55.86 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. 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 issued 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 analysts’ expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.54 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is 54.29%.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.