L3Harris Technologies Inc $LHX Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 20.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,731 shares of the company’s stock after selling 25,280 shares during the period. Franklin Resources Inc. owned approximately 0.05% of L3Harris Technologies worth $24,264,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares in the last quarter. LPL Financial LLC increased its position in L3Harris Technologies by 8.6% during the 1st quarter. LPL Financial LLC now owns 245,748 shares of the company’s stock worth $51,437,000 after purchasing an additional 19,549 shares during the period. Foundations Investment Advisors LLC increased its position in L3Harris Technologies by 3.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 2,155 shares of the company’s stock worth $451,000 after purchasing an additional 71 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of L3Harris Technologies during the 1st quarter worth approximately $379,000. Finally, Arkadios Wealth Advisors lifted its holdings in shares of L3Harris Technologies by 63.4% in the 1st quarter. Arkadios Wealth Advisors now owns 2,373 shares of the company’s stock valued at $497,000 after buying an additional 921 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LHX. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Truist Financial increased their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Morgan Stanley boosted their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.00.

L3Harris Technologies Stock Performance

Shares of LHX opened at $276.34 on Friday. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $308.12. The stock has a market cap of $51.69 billion, a P/E ratio of 30.88, a PEG ratio of 2.09 and a beta of 0.75. 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 has a 50-day moving average of $290.49 and a two-hundred day moving average of $270.35.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $3.34 EPS. The company’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is 51.56%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

L3Harris Technologies Company 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.