Welch & Forbes LLC Decreases Stock Position in L3Harris Technologies Inc $LHX

Welch & Forbes LLC cut its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,096 shares of the company’s stock after selling 2,788 shares during the quarter. Welch & Forbes LLC owned 0.07% of L3Harris Technologies worth $47,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fideuram Asset Management Ireland dac bought a new stake in L3Harris Technologies in the fourth quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of L3Harris Technologies in the fourth quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $25,000. American National Bank & Trust increased its holdings in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the period. Finally, Cedar Mountain Advisors LLC increased its stake in shares of L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after buying an additional 74 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on LHX shares. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein reduced 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. Finally, UBS Group lowered their price target 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. Two research 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 company’s stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Stock Up 0.4%

L3Harris Technologies stock traded up $1.04 during trading hours on Friday, hitting $290.91. The stock had a trading volume of 626,453 shares, compared to its average volume of 1,501,537. The stock’s 50-day moving average price is $302.97 and its 200-day moving average price is $329.25. The stock has a market capitalization of $54.19 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. L3Harris Technologies Inc has a 12-month low of $257.35 and a 12-month high of $379.23. 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 announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated 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 directly owned 4,192 shares in the company, valued at approximately $1,301,406.40. This trade represents a 34.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company 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.