Diamond Hill Capital Management Inc. Sells 323,450 Shares of L3Harris Technologies Inc $LHX

Diamond Hill Capital Management Inc. trimmed its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 28.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800,173 shares of the company’s stock after selling 323,450 shares during the period. Diamond Hill Capital Management Inc.’s holdings in L3Harris Technologies were worth $234,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of L3Harris Technologies by 166.6% during the fourth quarter. Global Retirement Partners LLC now owns 2,194 shares of the company’s stock valued at $644,000 after acquiring an additional 1,371 shares during the last quarter. Prevail Innovative Wealth Advisors LLC raised its stake in shares of L3Harris Technologies by 1.7% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 16,417 shares of the company’s stock valued at $4,820,000 after acquiring an additional 279 shares during the last quarter. Griffin Asset Management Inc. raised its stake in shares of L3Harris Technologies by 0.9% during the fourth quarter. Griffin Asset Management Inc. now owns 10,063 shares of the company’s stock valued at $2,954,000 after acquiring an additional 86 shares during the last quarter. Leonteq Securities AG bought a new position in L3Harris Technologies in the fourth quarter worth about $1,189,000. Finally, ABN Amro Investment Solutions bought a new position in L3Harris Technologies in the fourth quarter worth about $2,323,000. 84.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 16,365 shares of company stock worth $5,861,117. 0.68% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of LHX opened at $306.42 on Friday. The stock has a market cap of $57.08 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.56 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. L3Harris Technologies Inc has a fifty-two week low of $232.73 and a fifty-two week high of $379.23. The firm’s 50-day simple moving average is $337.56 and its two-hundred day simple moving average is $325.14.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, June 5th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research reports. UBS Group decreased their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. 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 company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $354.75.

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.