L3Harris Technologies Inc $LHX Stock Holdings Decreased by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors LLC sharply cut its L3Harris Technologies stake by 95.3% in the first quarter, selling 423,368 shares and leaving it with 20,969 shares valued at about $7.24 million.
• L3Harris reported better-than-expected quarterly results, with EPS of $2.72 versus estimates of $2.53 and revenue of $5.74 billion versus $5.42 billion expected. Revenue rose 11.9% year over year.
• Analyst sentiment remains broadly positive despite mixed target changes: the stock has a consensus rating of Moderate Buy with an average price target of $354.75, while shares recently traded around $290.91.

Manning & Napier Advisors LLC trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 95.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,969 shares of the company's stock after selling 423,368 shares during the period. Manning & Napier Advisors LLC's holdings in L3Harris Technologies were worth $7,237,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LHX. Brighton Jones LLC grew its position in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Jump Financial LLC raised its stake in shares of 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 purchasing an additional 388 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock valued at $4,285,000 after buying an additional 2,130 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $856,000. Finally, CIBC Asset Management Inc lifted its stake in shares of L3Harris Technologies by 116.2% in the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock valued at $15,549,000 after purchasing an additional 33,321 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the topic of several analyst reports. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. UBS Group decreased their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Wall Street Zen raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Finally, Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research 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 assigned 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 Trading Up 0.4%

Shares of LHX traded up $1.04 during trading hours on Friday, hitting $290.91. 626,453 shares of the stock traded hands, compared to its average volume of 1,501,537. The business has a fifty day moving average of $302.97 and a 200-day moving average of $329.25. The firm has a market capitalization of $54.19 billion, a PE ratio of 31.59, a price-to-earnings-growth 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 has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

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. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company's revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Analysts expect that L3Harris Technologies Inc will post 11.53 EPS 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. 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 Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of the firm's 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 transaction, the vice president directly 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 Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently 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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