L3Harris Technologies Inc $LHX Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. lowered its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,785 shares of the company's stock after selling 5,000 shares during the period. L3Harris Technologies accounts for 1.5% of General American Investors Co. Inc.'s investment portfolio, making the stock its 24th largest position. General American Investors Co. Inc.'s holdings in L3Harris Technologies were worth $22,706,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Allstate Corp lifted its holdings in L3Harris Technologies by 106.7% in the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after acquiring an additional 7,219 shares during the last quarter. Jain Global LLC increased its stake in L3Harris Technologies by 469.1% during the third quarter. Jain Global LLC now owns 45,861 shares of the company's stock worth $14,006,000 after acquiring an additional 37,803 shares during the last quarter. Whalen Wealth Management Inc. acquired a new stake in L3Harris Technologies during the fourth quarter worth $907,000. Atria Investments Inc lifted its stake in shares of L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company's stock valued at $4,345,000 after purchasing an additional 6,482 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock worth $6,872,710,000 after purchasing an additional 190,955 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 0.4%

Shares of LHX stock traded up $1.04 on Friday, hitting $290.91. The stock had a trading volume of 626,453 shares, compared to its average volume of 1,501,537. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The firm 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. L3Harris Technologies Inc has a 1 year low of $257.35 and a 1 year high of $379.23. The company's 50 day moving average price is $302.97 and its 200-day moving average price is $329.25.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results 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 return on equity of 10.65% and a net margin of 7.71%.The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the prior year, the company earned $2.41 EPS. L3Harris Technologies's revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Analysts anticipate that L3Harris Technologies Inc will post 11.53 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared 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. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. L3Harris Technologies's dividend payout ratio is currently 54.29%.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on LHX shares. Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research note on Friday, May 1st. Sanford C. Bernstein dropped their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 23rd. Finally, UBS Group decreased their price objective 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. Two equities research 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. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $354.75.

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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