Wedge Capital Management L L P NC Reduces Stake in L3Harris Technologies Inc $LHX

Wedge Capital Management L L P NC decreased its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 85.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,650 shares of the company’s stock after selling 9,938 shares during the quarter. Wedge Capital Management L L P NC’s holdings in L3Harris Technologies were worth $504,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LHX. Cyndeo Wealth Partners LLC lifted its position in shares of L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after acquiring an additional 39 shares during the last quarter. Independence Bank of Kentucky boosted its stake in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in shares of L3Harris Technologies by 3.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after purchasing an additional 40 shares during the last quarter. Finally, DB Fitzpatrick & Co Inc increased its position in shares of L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock worth $1,116,000 after purchasing an additional 42 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.4%

Shares of LHX stock opened at $299.08 on Thursday. The company has a market capitalization of $55.94 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 2.17 and a beta of 0.65. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $286.30 and its two-hundred day moving average is $276.96. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

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

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 51.56%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Citigroup assumed coverage on L3Harris Technologies in a research report on Thursday, December 11th. They issued a “buy” rating and a $331.00 target price for the company. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $295.50.

L3Harris Technologies Company 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.