Welch & Forbes LLC Sells 2,788 Shares of L3Harris Technologies Inc $LHX

Welch & Forbes LLC lessened its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 138,096 shares of the company’s stock after selling 2,788 shares during the period. Welch & Forbes LLC’s holdings in L3Harris Technologies were worth $47,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Artisan Partners Limited Partnership raised its stake in shares of L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock worth $557,933,000 after buying an additional 1,207,334 shares during the period. Two Sigma Investments LP increased its holdings in L3Harris Technologies by 560.7% in 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. Boston Partners increased its holdings in L3Harris Technologies by 27.6% in the 4th quarter. Boston Partners now owns 2,401,871 shares of the company’s stock worth $709,396,000 after acquiring an additional 519,226 shares in the last quarter. M&T Bank Corp increased its stake in shares of L3Harris Technologies by 3,127.8% in the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company’s stock worth $119,994,000 after purchasing an additional 396,077 shares in the last quarter. Finally, Diamant Asset Management Inc. increased its stake in L3Harris Technologies by 34,415.0% in the 1st quarter. Diamant Asset Management Inc. now owns 357,230 shares of the company’s stock worth $123,298,000 after buying an additional 356,195 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

LHX has been the topic of several recent analyst reports. Weiss Ratings cut shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group reduced their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Sanford C. Bernstein reduced their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Trading Up 0.4%

Shares of LHX stock traded up $1.04 during trading hours on Friday, reaching $290.91. 626,453 shares of the stock were exchanged, compared to its average volume of 1,501,537. The firm has a market capitalization of $54.19 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. L3Harris Technologies Inc has a 12-month low of $257.35 and a 12-month high of $379.23. The company’s 50-day moving average price is $302.97 and its 200-day moving average price is $329.25. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company 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 11.53 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend 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.