Welch & Forbes LLC Lowers Stake in L3Harris Technologies Inc $LHX

Welch & Forbes LLC reduced its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 140,884 shares of the company’s stock after selling 1,590 shares during the period. Welch & Forbes LLC’s holdings in L3Harris Technologies were worth $41,359,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LHX. Victory Capital Management Inc. boosted its stake in shares of L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after acquiring an additional 1,079,474 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $211,703,000. Two Sigma Investments LP boosted its stake in shares of L3Harris Technologies by 560.7% during the 3rd quarter. Two Sigma Investments LP now owns 614,287 shares of the company’s stock worth $187,609,000 after acquiring an additional 521,312 shares in the last quarter. M&T Bank Corp boosted its stake in shares of L3Harris Technologies by 3,127.8% during the 4th quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after acquiring an additional 396,077 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of L3Harris Technologies by 42.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company’s stock worth $336,343,000 after acquiring an additional 325,963 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Morgan Stanley increased their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Two investment 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 company. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Stock Up 0.1%

LHX opened at $314.98 on Friday. L3Harris Technologies Inc has a twelve month low of $237.56 and a twelve month high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $331.41 and a 200 day moving average price of $325.91. The company has a market cap of $58.68 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insider Buying and Selling

In other L3Harris Technologies news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samir Mehta sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares of the company’s stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,987 shares of company stock worth $5,049,149 in the last 90 days. 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.