Olstein Capital Management L.P. Sells 12,400 Shares of L3Harris Technologies Inc $LHX

Olstein Capital Management L.P. lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 49.6% during the 3rd quarter, Holdings Channel reports. The firm owned 12,600 shares of the company’s stock after selling 12,400 shares during the period. Olstein Capital Management L.P.’s holdings in L3Harris Technologies were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in LHX. Cyndeo Wealth Partners LLC raised its stake in shares of 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 purchasing an additional 37 shares during the period. Twin Lakes Capital Management LLC increased its holdings in L3Harris Technologies by 0.3% during the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after buying an additional 38 shares during the last quarter. Fidelis Capital Partners LLC raised its position in L3Harris Technologies by 2.2% in the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after acquiring an additional 39 shares during the period. Independence Bank of Kentucky boosted its stake in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of L3Harris Technologies by 3.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock valued at $280,000 after acquiring an additional 40 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $304.29 on Friday. The business’s fifty day moving average is $287.32 and its 200 day moving average is $279.10. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.84 and a beta of 0.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $3.34 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Monday, November 17th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s dividend payout ratio is 51.56%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Morgan Stanley raised their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, BNP Paribas Exane assumed coverage on L3Harris Technologies in a report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $299.93.

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.