L3Harris Technologies Inc $LHX Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its L3Harris Technologies stake by 23.1% in the first quarter, selling 895,426 shares. The fund still held 2,989,190 shares worth about $1.03 billion at quarter-end.
• L3Harris posted strong quarterly results, beating earnings and revenue expectations with $2.72 EPS on $5.74 billion in revenue. The company also raised FY2026 guidance to 11.4-11.6 EPS.
• Analyst sentiment remains constructive overall, with the stock carrying a “Moderate Buy” consensus and an average price target of $354.75. At the same time, some firms trimmed their targets, reflecting mixed views on near-term upside.

Bank of New York Mellon Corp cut its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,989,190 shares of the company's stock after selling 895,426 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.60% of L3Harris Technologies worth $1,031,719,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new position in L3Harris Technologies in the fourth quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in L3Harris Technologies in the fourth quarter worth about $25,000. American National Bank & Trust increased its holdings in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after buying an additional 30 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its stake in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after buying an additional 74 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Trading Down 1.1%

NYSE:LHX opened at $286.74 on Thursday. The firm has a market capitalization of $53.42 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.47 and a beta of 0.51. The business has a 50 day simple moving average of $301.75 and a 200 day simple moving average of $329.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. L3Harris Technologies Inc has a 12-month low of $260.22 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating 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 firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm posted $2.41 EPS. L3Harris Technologies's quarterly 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. Equities research analysts predict that L3Harris Technologies Inc will post 11.53 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Activity

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction that occurred 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 directly owned 4,192 shares of the company's stock, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company's stock.

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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