Balyasny Asset Management L.P. Sells 338,785 Shares of L3Harris Technologies Inc $LHX

Balyasny Asset Management L.P. cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 30.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 762,500 shares of the company’s stock after selling 338,785 shares during the period. Balyasny Asset Management L.P.’s holdings in L3Harris Technologies were worth $223,847,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Korea Investment CORP lifted its position in L3Harris Technologies by 11.2% during the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after acquiring an additional 15,408 shares during the last quarter. Allstate Corp lifted its position in L3Harris Technologies by 106.7% during the 4th quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after acquiring an additional 7,219 shares during the last quarter. Neo Ivy Capital Management acquired a new position in L3Harris Technologies during the 3rd quarter worth $1,203,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in L3Harris Technologies during the 3rd quarter worth $72,446,000. Finally, Jain Global LLC lifted its position in L3Harris Technologies by 469.1% during the 3rd quarter. Jain Global LLC now owns 45,861 shares of the company’s stock worth $14,006,000 after acquiring an additional 37,803 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group cut their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Stock Up 0.8%

LHX stock opened at $312.93 on Thursday. L3Harris Technologies Inc has a twelve month low of $243.84 and a twelve month high of $379.23. The company has a market cap of $58.30 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.57 and a beta of 0.50. The business’s 50-day simple moving average is $320.04 and its 200 day simple moving average is $328.19. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the business posted $2.41 earnings per share. The company’s quarterly 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. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares of the company’s stock, 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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company insiders.

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.