4,646 L3Harris Technologies Inc $LHX Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,425 shares of the company’s stock after selling 4,646 shares during the period. Fifth Third Bancorp’s holdings in L3Harris Technologies were worth $19,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Bourne Lent Asset Management Inc. increased its stake in shares of L3Harris Technologies by 3.1% during the 3rd 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 last quarter. Maryland State Retirement & Pension System raised its holdings in shares of L3Harris Technologies by 14.2% in the 3rd 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 during the period. UNIVEST FINANCIAL Corp lifted its stake in L3Harris Technologies by 1.1% in the 3rd 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 during the last quarter. Jacobi Capital Management LLC lifted its stake in L3Harris Technologies by 12.0% in the 3rd 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 last quarter. Finally, Machina Capital S.A.S. grew its holdings in L3Harris Technologies by 42.3% during the third quarter. Machina Capital S.A.S. now owns 11,006 shares of the company’s stock worth $2,606,000 after purchasing an additional 3,272 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on LHX shares. Argus downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, September 25th. Deutsche Bank restated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Bank of America raised their price target on L3Harris Technologies from $325.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. UBS Group raised their price target on L3Harris Technologies from $264.00 to $293.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Finally, Jefferies Financial Group cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.93.

L3Harris Technologies Trading Up 0.2%

Shares of NYSE:LHX opened at $272.42 on Friday. The business’s 50 day simple moving average is $251.22 and its 200 day simple moving average is $301.15. L3Harris Technologies Inc has a 1 year low of $232.34 and a 1 year high of $379.23. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 1.05. The company has a market capitalization of $50.72 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.66 and a beta of 0.47.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s dividend payout ratio is presently 46.64%.

About L3Harris Technologies

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.