Leith Wheeler Investment Counsel Ltd. Sells 39,831 Shares of L3Harris Technologies Inc $LHX

Leith Wheeler Investment Counsel Ltd. reduced its holdings in L3Harris Technologies Inc (NYSE:LHX) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,394 shares of the company’s stock after selling 39,831 shares during the quarter. L3Harris Technologies comprises 3.1% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 2nd biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in L3Harris Technologies were worth $37,067,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares during the period. Jump Financial LLC increased its holdings in L3Harris Technologies by 14.9% in the second quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after buying an additional 388 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of L3Harris Technologies by 14.2% during the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock worth $4,285,000 after acquiring an additional 2,130 shares in the last quarter. Nebula Research & Development LLC purchased a new position in L3Harris Technologies in the 2nd quarter valued at approximately $856,000. Finally, CIBC Asset Management Inc grew its holdings in L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock valued at $15,549,000 after purchasing an additional 33,321 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

L3Harris Technologies Trading Down 0.5%

Shares of LHX opened at $280.69 on Tuesday. The stock’s fifty day simple moving average is $300.61 and its 200 day simple moving average is $328.99. L3Harris Technologies Inc has a twelve month low of $260.22 and a twelve month high of $379.23. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $52.29 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 return on equity of 10.65% and a net margin of 7.71%.The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the business earned $2.41 EPS. The company’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, equities research analysts forecast that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 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.