L3Harris Technologies Inc $LHX Holdings Reduced by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC cut its L3Harris Technologies stake by 4.5% in the first quarter, leaving it with 328,982 shares valued at about $113.6 million.
• L3Harris posted better-than-expected quarterly results, with EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion, up 11.9% year over year.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus and an average price target of $354.75, while the company also paid a quarterly dividend of $1.25 per share.

Hsbc Holdings PLC lowered its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,982 shares of the company's stock after selling 15,326 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of L3Harris Technologies worth $113,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies in the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in L3Harris Technologies during the 4th quarter valued at $25,000. Motiv8 Investments LLC acquired a new position in L3Harris Technologies during the 4th quarter worth $25,000. American National Bank & Trust boosted its position in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after acquiring an additional 30 shares during the period. Finally, Abound Financial LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter valued at $29,000. Institutional investors own 84.76% of the company's stock.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LHX shares. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. 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 note on Monday, May 4th. UBS Group decreased their price objective 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. Finally, Weiss Ratings cut L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Two investment 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 stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $282.22 on Friday. 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 company has a market capitalization of $52.58 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.43 and a beta of 0.51. The firm has a 50-day moving average of $301.05 and a two-hundred day moving average of $328.86.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same quarter in the previous year, the company posted $2.41 EPS. The business's revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, analysts expect that L3Harris Technologies Inc will post 11.53 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. L3Harris Technologies's dividend payout ratio is currently 54.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.