3,521 L3Harris Technologies Inc $LHX Shares Sold by SVB Wealth LLC

SVB Wealth LLC decreased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,348 shares of the company’s stock after selling 3,521 shares during the quarter. SVB Wealth LLC’s holdings in L3Harris Technologies were worth $2,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisory Group LLC lifted its holdings in shares of L3Harris Technologies by 11.0% during the 3rd quarter. Private Advisory Group LLC now owns 39,299 shares of the company’s stock worth $9,305,000 after acquiring an additional 3,891 shares during the period. Russell Investments Group Ltd. boosted its position in shares of L3Harris Technologies by 33.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 223,222 shares of the company’s stock worth $52,848,000 after acquiring an additional 55,784 shares in the last quarter. Ariadne Wealth Management LP acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $243,000. Eurizon Capital SGR S.p.A. increased its stake in L3Harris Technologies by 560.9% in the third quarter. Eurizon Capital SGR S.p.A. now owns 133,279 shares of the company’s stock valued at $31,558,000 after acquiring an additional 113,113 shares during the last quarter. Finally, R Squared Ltd increased its stake in L3Harris Technologies by 18.5% in the third quarter. R Squared Ltd now owns 5,346 shares of the company’s stock valued at $1,266,000 after acquiring an additional 833 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Jefferies Financial Group downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Wednesday, August 26th. Royal Bank Of Canada lifted their price target on L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, October 30th. Deutsche Bank reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Finally, Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $340.93.

L3Harris Technologies Trading Down 1.7%

LHX opened at $271.76 on Friday. The company’s 50 day moving average is $251.00 and its 200-day moving average is $301.60. L3Harris Technologies Inc has a 1-year low of $232.34 and a 1-year high of $379.23. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The company has a market cap of $50.60 billion, a P/E ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.33. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 EPS. Equities research analysts predict that L3Harris Technologies Inc will post 12.10 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $1.25 dividend. The ex-dividend date is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 46.64%.

L3Harris Technologies Company Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.