L3Harris Technologies Inc $LHX Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in L3Harris Technologies Inc (NYSE:LHX) by 27.0% during the third quarter, HoldingsChannel.com reports. The firm owned 15,588 shares of the company’s stock after selling 5,751 shares during the period. Pacer Advisors Inc.’s holdings in L3Harris Technologies were worth $4,761,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LHX. Brighton Jones LLC raised its stake in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. State of Wyoming bought a new stake in shares of L3Harris Technologies in the 1st quarter valued at approximately $391,000. WPG Advisers LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at approximately $39,000. Evergreen Capital Management LLC raised its position in shares of L3Harris Technologies by 36.2% during the 1st quarter. Evergreen Capital Management LLC now owns 1,842 shares of the company’s stock valued at $386,000 after acquiring an additional 490 shares in the last quarter. Finally, DRW Securities LLC lifted its stake in L3Harris Technologies by 30.1% during the first quarter. DRW Securities LLC now owns 1,485 shares of the company’s stock worth $307,000 after purchasing an additional 344 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. UBS Group lifted their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of L3Harris Technologies in a report on Monday, December 22nd. Finally, Truist Financial upped their target price on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $295.50.

L3Harris Technologies Trading Down 0.3%

L3Harris Technologies stock opened at $295.75 on Tuesday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $55.32 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 2.16 and a beta of 0.65. The firm has a 50-day moving average price of $286.95 and a two-hundred day moving average price of $278.23.

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

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s payout ratio is 51.56%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction on 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 directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

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.