Pictet Asset Management Holding SA Has $25.20 Million Stock Position in L3Harris Technologies Inc $LHX

Pictet Asset Management Holding SA reduced its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,996 shares of the company’s stock after selling 3,419 shares during the quarter. Pictet Asset Management Holding SA’s holdings in L3Harris Technologies were worth $25,195,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LHX. Fideuram Asset Management Ireland dac acquired a new stake in L3Harris Technologies during the 4th quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in L3Harris Technologies during the 4th quarter worth $25,000. Motiv8 Investments LLC acquired a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. American National Bank & Trust raised its position in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after buying an additional 30 shares in the last quarter. Finally, Abound Financial LLC bought a new stake in L3Harris Technologies during the fourth quarter worth $29,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president directly owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of research analyst reports. UBS Group reduced their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein decreased their price target on L3Harris Technologies to $405.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $292.29 on Thursday. The company’s fifty day moving average price is $307.25 and its 200-day moving average price is $328.99. L3Harris Technologies Inc has a one year low of $249.11 and a one year high of $379.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 0.89. The firm has a market capitalization of $54.45 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 1.47 and a beta of 0.51.

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, beating analysts’ consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, June 5th. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

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.