L3Harris Technologies Inc $LHX Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 485,835 shares of the company’s stock after selling 28,551 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.26% of L3Harris Technologies worth $167,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LHX. Cedar Mountain Advisors LLC raised its stake in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in L3Harris Technologies during the fourth quarter valued at about $25,000. Tower View Wealth Management LLC bought a new position in L3Harris Technologies during the first quarter valued at about $29,000. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies during the fourth quarter worth about $25,000. Finally, Motiv8 Investments LLC acquired a new position in L3Harris Technologies during the fourth quarter worth about $25,000. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of a number of research analyst reports. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a 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 for the company in a report on Friday, May 1st. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Sanford C. Bernstein dropped their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $368.00.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $305.20 on Wednesday. The firm’s 50 day simple moving average is $299.16 and its 200-day simple moving average is $328.59. The company has a market cap of $56.86 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 1.54 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a fifty-two week low of $267.25 and a fifty-two week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities research analysts predict that L3Harris Technologies Inc will post 11.54 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 4th. L3Harris Technologies’s payout ratio is 54.29%.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

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.