Fifth Third Bancorp Has $32.58 Million Stock Holdings in L3Harris Technologies Inc $LHX

Fifth Third Bancorp increased its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 239.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,391 shares of the company's stock after acquiring an additional 66,598 shares during the quarter. Fifth Third Bancorp owned about 0.05% of L3Harris Technologies worth $32,579,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after buying an additional 3,001 shares during the period. Jump Financial LLC raised its stake in L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company's stock worth $751,000 after buying an additional 388 shares during the period. NewEdge Advisors LLC raised its stake in 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 buying an additional 2,130 shares during the period. Nebula Research & Development LLC bought a new position in L3Harris Technologies during the second quarter worth about $856,000. Finally, CIBC Asset Management Inc lifted its holdings in L3Harris Technologies by 116.2% during the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after acquiring an additional 33,321 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $290.91 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a twelve month low of $257.35 and a twelve month high of $379.23. The stock has a market capitalization of $54.19 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.47 and a beta of 0.51. The company has a 50 day moving average of $302.97 and a 200-day moving average of $329.49.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 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 business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm posted $2.41 earnings per share. The firm'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. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.53 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies's payout ratio is presently 54.29%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LHX. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. UBS Group dropped their target price on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $354.75.

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction dated 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 directly owned 4,192 shares of the company's stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company insiders.

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.

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