Donoghue Forlines LLC Sells 11,530 Shares of L3Harris Technologies Inc $LHX

Donoghue Forlines LLC trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 68.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,398 shares of the company’s stock after selling 11,530 shares during the period. Donoghue Forlines LLC’s holdings in L3Harris Technologies were worth $1,649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares during the period. AGF Management Ltd. bought a new stake in L3Harris Technologies during the second quarter worth about $324,940,000. Boston Partners grew its holdings in L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of L3Harris Technologies by 8,284.6% during the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after purchasing an additional 766,075 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of L3Harris Technologies by 155.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock valued at $155,107,000 after purchasing an additional 376,499 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $346.74 on Friday. The firm has a fifty day simple moving average of $295.67 and a two-hundred day simple moving average of $285.02. The firm has a market cap of $64.86 billion, a PE ratio of 37.24, a P/E/G ratio of 2.17 and a beta of 0.66. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $361.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company 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 company posted $3.34 earnings per share. L3Harris Technologies’s 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. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

Insider Activity at L3Harris Technologies

In other 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 transaction, the chief executive officer owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LHX. Vertical Research restated a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday. Morgan Stanley raised their price target on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research note on Wednesday. Finally, BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $315.73.

About L3Harris Technologies

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.