L3Harris Technologies Inc $LHX Stock Holdings Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC cut its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 48,928 shares of the company’s stock after selling 1,266 shares during the quarter. MetLife Investment Management LLC’s holdings in L3Harris Technologies were worth $10,241,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of LHX. Nuveen LLC acquired a new position in shares of L3Harris Technologies during the 1st quarter valued at $299,157,000. Wellington Management Group LLP increased its position in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after purchasing an additional 557,610 shares during the period. GAMMA Investing LLC increased its position in shares of L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock valued at $107,424,000 after purchasing an additional 510,438 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after purchasing an additional 311,886 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of L3Harris Technologies by 60.8% during the 1st quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company’s stock valued at $160,644,000 after purchasing an additional 290,269 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 72,000 shares of L3Harris Technologies stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total transaction of $19,522,080.00. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $39,472,018.92. The trade was a 33.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 145,199 shares of company stock worth $38,555,071 in the last quarter. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $277.91 on Wednesday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $280.52. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $52.00 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.02 and a beta of 0.77. The stock’s fifty day simple moving average is $264.63 and its 200-day simple moving average is $234.87.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the company posted $3.24 earnings per share. L3Harris Technologies’s revenue for the quarter was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is currently 53.63%.

Analyst Upgrades and Downgrades

LHX has been the topic of several research analyst reports. Citigroup lifted their price target on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays lifted their target price on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. UBS Group lifted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

L3Harris Technologies Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.