Rockefeller Capital Management L.P. Acquires 11,237 Shares of L3Harris Technologies Inc $LHX

Rockefeller Capital Management L.P. raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,266 shares of the company’s stock after acquiring an additional 11,237 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in L3Harris Technologies were worth $92,376,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in L3Harris Technologies by 1.9% during the first 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 purchasing an additional 181,550 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after buying an additional 557,610 shares during the last quarter. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after buying an additional 38,820 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of L3Harris Technologies by 52.3% during 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 acquiring an additional 1,413,833 shares in the last quarter. Finally, Invesco Ltd. lifted its position in L3Harris Technologies by 5.0% during the first 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 during the last quarter. 84.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a 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 report on Tuesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of L3Harris Technologies in a report on Thursday. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Finally, Robert W. Baird upped 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. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.63.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Trading Up 0.2%

NYSE LHX opened at $289.02 on Friday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. 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 $54.06 billion, a PE ratio of 32.29, a P/E/G ratio of 2.09 and a beta of 0.75. The company has a fifty day moving average of $290.17 and a 200 day moving average of $266.82.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio is currently 51.56%.

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.