Voya Investment Management LLC Sells 12,719 Shares of L3Harris Technologies Inc $LHX

Voya Investment Management LLC decreased its stake in L3Harris Technologies Inc (NYSE:LHX) by 20.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,592 shares of the company’s stock after selling 12,719 shares during the quarter. Voya Investment Management LLC’s holdings in L3Harris Technologies were worth $15,451,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC raised its stake in L3Harris Technologies by 2.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after acquiring an additional 37 shares during the period. Fidelis Capital Partners LLC lifted its stake in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock valued at $493,000 after buying an additional 39 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the period. Patrick M Sweeney & Associates Inc. increased its stake in L3Harris Technologies by 3.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after buying an additional 40 shares in the last quarter. Finally, DB Fitzpatrick & Co Inc raised its holdings in L3Harris Technologies by 1.0% during the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after acquiring an additional 42 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $294.65 on Tuesday. The company’s 50-day moving average price is $286.15 and its 200-day moving average price is $276.42. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a market cap of $55.11 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.09 and a beta of 0.65. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 17th were given a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BNP Paribas Exane started coverage on L3Harris Technologies in a research note on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective for the company. BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. UBS Group boosted their target price on shares of L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Truist Financial increased their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $295.50.

L3Harris Technologies Company 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.