Employees Retirement System of Texas Invests $502,000 in L3Harris Technologies Inc $LHX

Employees Retirement System of Texas purchased a new stake in L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,003 shares of the company’s stock, valued at approximately $502,000.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of L3Harris Technologies in the first quarter valued at approximately $299,157,000. Bank of New York Mellon Corp boosted its stake in 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 valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. AGF Management Ltd. acquired a new position in L3Harris Technologies in the 2nd quarter valued at $324,940,000. Boston Partners grew its holdings in L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after buying an additional 838,546 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in L3Harris Technologies by 946.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock worth $164,297,000 after buying an additional 709,948 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LHX has been the topic of several research reports. UBS Group upped their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. increased their price target on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, BNP Paribas Exane assumed coverage on L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.00.

L3Harris Technologies Stock Performance

NYSE LHX opened at $276.34 on Friday. The firm’s 50 day simple moving average is $290.49 and its 200 day simple moving average is $270.35. The firm has a market capitalization of $51.69 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 2.09 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12.

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

L3Harris Technologies Announces Dividend

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

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated Thursday, November 13th. The stock was 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. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Company 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.