Clearbridge Investments LLC Has $909.50 Million Stock Position in L3Harris Technologies Inc $LHX

Clearbridge Investments LLC trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,098,057 shares of the company’s stock after selling 106,585 shares during the period. L3Harris Technologies makes up about 0.7% of Clearbridge Investments LLC’s holdings, making the stock its 27th largest holding. Clearbridge Investments LLC’s holdings in L3Harris Technologies were worth $909,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. SouthState Bank Corp lifted its stake in shares of L3Harris Technologies by 1.8% in the fourth quarter. SouthState Bank Corp now owns 63,401 shares of the company’s stock worth $18,613,000 after buying an additional 1,131 shares during the last quarter. Syon Capital LLC lifted its stake in shares of L3Harris Technologies by 31.3% in the fourth quarter. Syon Capital LLC now owns 4,264 shares of the company’s stock worth $1,252,000 after buying an additional 1,017 shares during the last quarter. ING Groep NV lifted its stake in shares of L3Harris Technologies by 15.7% in the fourth quarter. ING Groep NV now owns 27,974 shares of the company’s stock worth $8,212,000 after buying an additional 3,787 shares during the last quarter. Capital World Investors lifted its stake in shares of L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after buying an additional 329,910 shares during the last quarter. Finally, Capital International Sarl lifted its stake in shares of L3Harris Technologies by 39.3% in the fourth quarter. Capital International Sarl now owns 59,501 shares of the company’s stock worth $17,468,000 after buying an additional 16,772 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.6%

Shares of L3Harris Technologies stock opened at $307.99 on Friday. The firm has a market capitalization of $57.37 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 1.56 and a beta of 0.50. 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 company’s fifty day moving average price is $326.90 and its two-hundred day moving average price is $326.35. L3Harris Technologies Inc has a 52-week low of $237.56 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates 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 for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In other 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 of the company’s stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings upgraded shares of L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, February 27th. UBS Group cut their target price 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. Finally, Sanford C. Bernstein cut their target price 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 assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

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.