Wilmington Savings Fund Society FSB Sells 1,917 Shares of L3Harris Technologies Inc $LHX

Wilmington Savings Fund Society FSB lowered its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 32.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,928 shares of the company’s stock after selling 1,917 shares during the period. Wilmington Savings Fund Society FSB’s holdings in L3Harris Technologies were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after buying an additional 121,619 shares in the last quarter. State Street Corp grew its stake in shares of L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after acquiring an additional 105,402 shares during the period. Geode Capital Management LLC raised its holdings in shares of L3Harris Technologies by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after purchasing an additional 38,820 shares during the last quarter. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. Finally, Boston Partners boosted its holdings in L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 1.9%

Shares of LHX opened at $346.74 on Monday. The firm has a market cap of $64.86 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $361.59. The company has a 50 day simple moving average of $295.67 and a two-hundred day simple moving average of $285.24.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. L3Harris Technologies’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LHX shares. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Truist Financial set a $364.00 target price on L3Harris Technologies in a research report on Wednesday. BNP Paribas Exane began coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research report on Thursday. Finally, Citigroup increased their target price on shares of L3Harris Technologies from $331.00 to $389.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $315.73.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

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.