L3Harris Technologies Inc $LHX Shares Sold by Washington Trust Bank

Washington Trust Bank decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,732 shares of the company’s stock after selling 2,606 shares during the quarter. Washington Trust Bank’s holdings in L3Harris Technologies were worth $10,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LHX. BlackRock Inc. acquired a new position in shares of L3Harris Technologies during the second quarter worth about $5,525,806,000. Bank of New York Mellon Corp acquired a new stake in L3Harris Technologies in the second quarter valued at approximately $752,983,000. Artisan Partners Limited Partnership raised its holdings in L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock valued at $557,933,000 after acquiring an additional 1,207,334 shares in the last quarter. Deutsche Bank AG purchased a new position in L3Harris Technologies in the second quarter worth approximately $174,006,000. Finally, Man Group plc lifted its stake in L3Harris Technologies by 5,286.7% in the second quarter. Man Group plc now owns 563,720 shares of the company’s stock worth $163,811,000 after acquiring an additional 553,255 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $263.31 on Friday. The firm has a market capitalization of $49.03 billion, a P/E ratio of 26.60, a P/E/G ratio of 1.14 and a beta of 0.51. L3Harris Technologies Inc has a 52 week low of $258.54 and a 52 week high of $379.23. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $285.55 and its two-hundred day moving average is $317.80.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the firm earned $2.78 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.88 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. Investors of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. L3Harris Technologies’s payout ratio is 50.51%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Susquehanna lowered their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. BNP Paribas Exane dropped their target price on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $360.45.

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.