L3Harris Technologies Inc $LHX Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. cut its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,776 shares of the company’s stock after selling 296 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in L3Harris Technologies were worth $1,418,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Nuveen LLC acquired a new position in L3Harris Technologies during the first quarter worth $299,157,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after purchasing an additional 709,948 shares during the last quarter. Wellington Management Group LLP raised its holdings in L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock worth $1,074,208,000 after purchasing an additional 557,610 shares during the last quarter. GAMMA Investing LLC raised its holdings in L3Harris Technologies by 18,295.3% during the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company’s stock worth $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock worth $486,898,000 after purchasing an additional 311,886 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 40,138 shares of L3Harris Technologies stock in a transaction on Monday, August 11th. The stock was sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at $39,236,182.56. The trade was a 21.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 145,199 shares of company stock valued at $38,555,071 over the last ninety days. 0.72% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $270.55 on Wednesday. The company has a market cap of $50.62 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.00 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $280.52. The business has a fifty day simple moving average of $269.72 and a 200-day simple moving average of $240.07.

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

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $1.20 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. L3Harris Technologies’s payout ratio is currently 53.63%.

Analyst Upgrades and Downgrades

LHX has been the subject of several research reports. UBS Group lifted their price objective on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Truist Financial raised their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Barclays raised their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Susquehanna raised their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $279.47.

About L3Harris Technologies

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.