L3Harris Technologies Inc $LHX Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 49.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,632 shares of the company’s stock after selling 128,833 shares during the period. King Luther Capital Management Corp’s holdings in L3Harris Technologies were worth $31,168,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of LHX. Bourne Lent Asset Management Inc. grew its holdings in L3Harris Technologies by 3.1% in the third quarter. Bourne Lent Asset Management Inc. now owns 10,090 shares of the company’s stock worth $2,389,000 after purchasing an additional 300 shares during the period. Maryland State Retirement & Pension System increased its stake in L3Harris Technologies by 14.2% in the third quarter. Maryland State Retirement & Pension System now owns 11,512 shares of the company’s stock valued at $2,726,000 after purchasing an additional 1,428 shares in the last quarter. UNIVEST FINANCIAL Corp increased its stake in L3Harris Technologies by 1.1% in the third quarter. UNIVEST FINANCIAL Corp now owns 40,997 shares of the company’s stock valued at $9,707,000 after purchasing an additional 440 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in shares of L3Harris Technologies by 12.0% during the third quarter. Jacobi Capital Management LLC now owns 3,623 shares of the company’s stock valued at $858,000 after purchasing an additional 389 shares during the period. Finally, Machina Capital S.A.S. raised its holdings in shares of L3Harris Technologies by 42.3% during the third quarter. Machina Capital S.A.S. now owns 11,006 shares of the company’s stock valued at $2,606,000 after purchasing an additional 3,272 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

LHX has been the subject of several research reports. Deutsche Bank restated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Weiss Ratings lowered L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. The Goldman Sachs Group dropped their price target on L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. UBS Group increased their price target on L3Harris Technologies from $264.00 to $293.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Finally, Argus cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $340.93.

L3Harris Technologies Stock Performance

LHX opened at $276.28 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $250.79 and its two-hundred day moving average price is $302.01. L3Harris Technologies Inc has a 1-year low of $232.34 and a 1-year high of $379.23. The company has a market cap of $51.44 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.69 and a beta of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 29th. The company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.92 billion. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $2.70 earnings per share. On average, analysts expect that L3Harris Technologies Inc will post 12.10 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 annualized dividend and a yield of 1.8%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 46.64%.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.