Calamos Advisors LLC Cuts Stake in L3Harris Technologies Inc $LHX

Calamos Advisors LLC reduced its position in L3Harris Technologies Inc (NYSE:LHX) by 17.7% in the 1st quarter, Holdings Channel reports. The firm owned 92,666 shares of the company’s stock after selling 19,981 shares during the quarter. Calamos Advisors LLC’s holdings in L3Harris Technologies were worth $31,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Allstate Corp increased its position in shares of L3Harris Technologies by 106.7% during the fourth 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 period. Jain Global LLC lifted its stake in L3Harris Technologies by 469.1% during the third quarter. Jain Global LLC now owns 45,861 shares of the company’s stock worth $14,006,000 after purchasing an additional 37,803 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at $907,000. Atria Investments Inc grew its holdings in shares of L3Harris Technologies by 77.9% during the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after purchasing an additional 6,482 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after buying an additional 190,955 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of a number of recent research reports. UBS Group dropped their price objective 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. 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. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $288.68 on Tuesday. The company has a market capitalization of $53.78 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. L3Harris Technologies Inc has a twelve month low of $257.35 and a twelve month high of $379.23. The business has a 50 day simple moving average of $302.32 and a 200-day simple moving average of $329.43. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the company earned $2.41 earnings per share. The business’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 expect that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors 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 yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies’s payout ratio is presently 54.29%.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by insiders.

L3Harris Technologies Company 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.