L3Harris Technologies Inc $LHX Shares Sold by Conning Inc.

Key Points

• Conning Inc. reduced its L3Harris Technologies stake by 4.5% in the fourth quarter, selling 5,199 shares and ending with 110,241 shares valued at about $32.4 million.
• L3Harris reported better-than-expected quarterly results, with EPS of $2.72 and revenue of $5.74 billion, both above analyst estimates; revenue also rose 11.9% year over year.
• Analysts remain generally constructive, with a Moderate Buy consensus and average price target of $354.75, while the company also declared a quarterly dividend of $1.25 per share payable June 26.

Conning Inc. cut its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,241 shares of the company's stock after selling 5,199 shares during the period. Conning Inc. owned about 0.06% of L3Harris Technologies worth $32,363,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Korea Investment CORP increased its position in L3Harris Technologies by 11.2% during the 3rd quarter. Korea Investment CORP now owns 153,567 shares of the company's stock worth $46,901,000 after purchasing an additional 15,408 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in L3Harris Technologies by 13.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company's stock valued at $9,230,000 after purchasing an additional 3,532 shares in the last quarter. Crystal Rock Capital Management purchased a new position in L3Harris Technologies in the 3rd quarter valued at about $1,993,000. Neo Ivy Capital Management acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $1,203,000. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth about $907,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, April 29th. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Citigroup increased their price target on L3Harris Technologies from $389.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Finally, UBS Group lowered their price objective on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Two equities research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

L3Harris Technologies Price Performance

LHX stock opened at $307.41 on Friday. The stock has a 50-day moving average price of $343.35 and a two-hundred day moving average price of $324.52. L3Harris Technologies Inc has a 12-month low of $220.87 and a 12-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 cap of $57.27 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.54 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released 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. The company had revenue of $5.74 billion for 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%.The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.57 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's payout ratio is 54.29%.

Insiders Place Their Bets

In related news, VP Melanie Rakita sold 2,180 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the sale, the vice president directly owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider owned 7,660 shares of the company's stock, valued at approximately $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,365 shares of company stock worth $5,861,117 over the last ninety days. 0.68% of the stock is owned by company insiders.

L3Harris Technologies 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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