Baxter Bros Inc. Sells 3,657 Shares of L3Harris Technologies Inc $LHX

Baxter Bros Inc. lowered its stake in L3Harris Technologies Inc (NYSE:LHX) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,515 shares of the company’s stock after selling 3,657 shares during the quarter. Baxter Bros Inc.’s holdings in L3Harris Technologies were worth $4,143,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after acquiring an additional 181,550 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of L3Harris Technologies by 12.2% in 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 acquiring an additional 557,610 shares in the last quarter. Invesco Ltd. increased its stake in shares of L3Harris Technologies by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after acquiring an additional 112,271 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of L3Harris Technologies by 15.5% in 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 acquiring an additional 311,886 shares in the last quarter. Finally, Nuveen LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $299,157,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

LHX opened at $306.83 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market capitalization of $57.41 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 2.20 and a beta of 0.76. The firm’s fifty day moving average price is $280.99 and its two-hundred day moving average price is $251.50. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $306.83.

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

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 5th. L3Harris Technologies’s payout ratio is currently 53.63%.

Analyst Ratings Changes

LHX has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Finally, Robert W. Baird boosted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $279.47.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by insiders.

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.