Conning Inc. Lowers Holdings in L3Harris Technologies Inc $LHX

Conning Inc. lowered its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,540 shares of the company’s stock after selling 13,701 shares during the quarter. Conning Inc.’s holdings in L3Harris Technologies were worth $33,321,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in L3Harris Technologies in the 4th quarter valued at approximately $25,000. Tower View Wealth Management LLC acquired a new position in L3Harris Technologies during the 1st quarter worth approximately $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $25,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $290.91 on Friday. The stock has a fifty day moving average price of $302.97 and a 200 day moving average price of $329.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The stock has a market cap of $54.19 billion, a PE ratio of 31.59, a P/E/G ratio of 1.47 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $257.35 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $1.25 per share. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s payout ratio is presently 54.29%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein decreased their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. UBS Group lowered their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.75.

Insider Activity at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their position. The sale 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 corporate 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.