L3Harris Technologies Inc $LHX Stock Holdings Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 5.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 485,835 shares of the company’s stock after selling 28,551 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in L3Harris Technologies were worth $167,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its stake in L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after buying an additional 74 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at $25,000. Tower View Wealth Management LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at $29,000. Fideuram Asset Management Ireland dac purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at $25,000. Finally, Motiv8 Investments LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at $25,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LHX shares. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein lowered their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. UBS Group dropped their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $368.00.

L3Harris Technologies Stock Up 0.6%

LHX stock opened at $305.20 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 1 year low of $267.25 and a 1 year high of $379.23. The company has a fifty day simple moving average of $299.16 and a 200 day simple moving average of $328.59. The firm has a market cap of $56.86 billion, a PE ratio of 33.14, a PEG ratio of 1.54 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. The firm had revenue of $5.74 billion during 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%. L3Harris Technologies’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts anticipate that L3Harris Technologies Inc will post 11.54 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s dividend payout ratio is 54.29%.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% 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.