First Merchants Corp Sells 2,147 Shares of L3Harris Technologies Inc $LHX

First Merchants Corp lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,349 shares of the company’s stock after selling 2,147 shares during the quarter. First Merchants Corp’s holdings in L3Harris Technologies were worth $5,857,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LHX. Brighton Jones LLC raised its holdings in shares of L3Harris Technologies by 233.9% in the 4th 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. Wedmont Private Capital raised its holdings in shares of L3Harris Technologies by 9.8% in the 1st quarter. Wedmont Private Capital now owns 1,109 shares of the company’s stock valued at $246,000 after purchasing an additional 99 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of L3Harris Technologies by 24.4% in the 1st quarter. Park Avenue Securities LLC now owns 6,919 shares of the company’s stock valued at $1,448,000 after purchasing an additional 1,359 shares in the last quarter. Courier Capital LLC bought a new position in shares of L3Harris Technologies during the 1st quarter worth approximately $266,000. Finally, Farther Finance Advisors LLC raised its stake in shares of L3Harris Technologies by 21.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,672 shares of the company’s stock worth $351,000 after acquiring an additional 294 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LHX. Truist Financial boosted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Susquehanna boosted their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Barclays boosted their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $279.47.

L3Harris Technologies Stock Up 1.8%

NYSE:LHX opened at $306.83 on Thursday. The company has a market cap of $57.41 billion, a PE ratio of 34.28, a P/E/G ratio of 2.20 and a beta of 0.76. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $306.83. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $280.99 and its two-hundred day moving average is $251.50.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s dividend payout ratio is 53.63%.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.