Pinnacle Financial Partners Inc Sells 1,622 Shares of L3Harris Technologies Inc $LHX

Pinnacle Financial Partners Inc lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,542 shares of the company’s stock after selling 1,622 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in L3Harris Technologies were worth $10,549,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LHX. Cyndeo Wealth Partners LLC lifted its holdings in shares of L3Harris Technologies by 2.7% in 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 period. Twin Lakes Capital Management LLC raised its holdings in shares of L3Harris Technologies by 0.3% in the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock valued at $4,380,000 after acquiring an additional 38 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after acquiring an additional 39 shares during the period. Independence Bank of Kentucky grew its holdings in L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its holdings in L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after acquiring an additional 40 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on LHX. Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. UBS Group upped their target price on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Vertical Research reaffirmed a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.73.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

L3Harris Technologies Stock Up 1.9%

L3Harris Technologies stock opened at $346.74 on Friday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $361.59. The business has a fifty day moving average price of $295.67 and a 200-day moving average price of $284.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market capitalization of $64.86 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 2.13 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the business posted $3.34 earnings per share. The firm’s 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 research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

About L3Harris Technologies

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.