L3Harris Technologies Inc $LHX Stock Position Lowered by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.5% during the 1st quarter, HoldingsChannel reports. The firm owned 328,982 shares of the company’s stock after selling 15,326 shares during the quarter. Hsbc Holdings PLC’s holdings in L3Harris Technologies were worth $113,576,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LHX. Vanguard Group Inc. boosted its position in shares of L3Harris Technologies by 0.8% in 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 period. Capital World Investors lifted its stake in L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after acquiring an additional 329,910 shares in the last quarter. State Street Corp lifted its stake in L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after acquiring an additional 141,442 shares in the last quarter. Geode Capital Management LLC boosted its position in L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after acquiring an additional 106,430 shares during the period. Finally, Morgan Stanley grew its stake in L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company’s stock valued at $974,072,000 after acquiring an additional 124,797 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Down 0.8%

NYSE:LHX opened at $282.22 on Friday. The company has a market capitalization of $52.58 billion, a P/E ratio of 30.64, a P/E/G ratio of 1.43 and a beta of 0.51. The stock’s 50 day moving average price is $301.05 and its 200 day moving average price is $328.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a 52 week low of $260.22 and a 52 week high of $379.23.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.42 billion. During the same period in the prior year, the company posted $2.41 earnings per share. L3Harris Technologies’s revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts forecast that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

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.