Wedge Capital Management L L P NC Trims Stock Position in L3Harris Technologies Inc $LHX

Wedge Capital Management L L P NC trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 34.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,588 shares of the company’s stock after selling 6,062 shares during the period. Wedge Capital Management L L P NC’s holdings in L3Harris Technologies were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its position in shares of L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after buying an additional 216 shares during the period. Dean Capital Management grew its stake in shares of L3Harris Technologies by 11.5% during the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock valued at $2,009,000 after acquiring an additional 986 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in shares of L3Harris Technologies during the first quarter valued at about $310,000. Osterweis Capital Management Inc. grew its stake in L3Harris Technologies by 14.9% in the first quarter. Osterweis Capital Management Inc. now owns 124,107 shares of the company’s stock worth $25,977,000 after purchasing an additional 16,091 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new position in L3Harris Technologies in the first quarter worth about $1,593,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.3%

Shares of LHX stock opened at $283.67 on Monday. The firm’s fifty day moving average price is $273.51 and its two-hundred day moving average price is $244.49. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $286.81. The firm has a market capitalization of $53.07 billion, a P/E ratio of 31.70, a PEG ratio of 2.08 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LHX has been the topic of a number of recent research reports. Truist Financial raised their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Barclays boosted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Robert W. Baird boosted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.