PNC Financial Services Group Inc. Purchases 3,448 Shares of L3Harris Technologies Inc $LHX

PNC Financial Services Group Inc. boosted its position in L3Harris Technologies Inc (NYSE:LHX) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,893 shares of the company’s stock after acquiring an additional 3,448 shares during the period. PNC Financial Services Group Inc.’s holdings in L3Harris Technologies were worth $28,151,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LHX. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 0.8% during the fourth 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. Bank of America Corp DE boosted its holdings in L3Harris Technologies by 3.1% during the second quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock worth $433,582,000 after buying an additional 52,776 shares during the last quarter. Capital Research Global Investors boosted its holdings in L3Harris Technologies by 23.3% during the third quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after buying an additional 312,846 shares during the last quarter. AGF Management Ltd. boosted its holdings in L3Harris Technologies by 15.9% during the third quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock worth $458,386,000 after buying an additional 205,479 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in L3Harris Technologies by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,440,599 shares of the company’s stock worth $439,920,000 after buying an additional 35,951 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,756 shares of the company’s stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,660 shares in the company, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,365 shares of company stock valued at $5,861,117 over the last 90 days. 0.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LHX shares. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their target price on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Trading Up 1.9%

NYSE LHX opened at $312.12 on Friday. The firm has a market cap of $58.15 billion, a P/E ratio of 33.89, a P/E/G ratio of 1.55 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The stock’s 50-day moving average is $336.51 and its 200-day moving average is $325.05. L3Harris Technologies Inc has a one year low of $235.72 and a one year high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

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.