Bank of New York Mellon Corp Sells 81,112 Shares of L3Harris Technologies Inc $LHX

Key Points

• Bank of New York Mellon trimmed its L3Harris stake by 2.0% in the fourth quarter, selling 81,112 shares and leaving it with 3.88 million shares valued at about $1.14 billion.
• L3Harris posted strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping expectations; revenue rose 11.9% year over year. The company also reaffirmed FY2026 EPS guidance of $11.40 to $11.60.
• The company announced a quarterly dividend of $1.25 per share, payable June 26, and analysts currently rate the stock a consensus Moderate Buy with a $354.75 price target.

Bank of New York Mellon Corp lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,884,616 shares of the company's stock after selling 81,112 shares during the period. Bank of New York Mellon Corp owned approximately 2.08% of L3Harris Technologies worth $1,140,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LHX. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies in the 4th quarter worth approximately $25,000. Caitlin John LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $28,000. American National Bank & Trust lifted its stake in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after purchasing an additional 30 shares during the period. JPL Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $30,000. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Trading Down 0.4%

LHX stock opened at $308.26 on Wednesday. The firm has a market cap of $57.43 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 1.56 and a beta of 0.50. The firm has a fifty day moving average price of $330.34 and a 200 day moving average price of $326.17. L3Harris Technologies Inc has a fifty-two week low of $237.56 and a fifty-two week high of $379.23. 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 (NYSE:LHX - Get Free Report) last issued its quarterly 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. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies's payout ratio is presently 54.29%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LHX. UBS Group reduced their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a report on Friday, May 1st. Citigroup increased their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Argus raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. 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 data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $354.75.

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.

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