L3Harris Technologies Inc $LHX Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 8.4% in the third quarter, Holdings Channel reports. The institutional investor owned 29,642 shares of the company’s stock after buying an additional 2,307 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in L3Harris Technologies were worth $9,063,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position 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 last quarter. AGF Management Ltd. bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $324,940,000. Boston Partners increased its position 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 acquiring an additional 838,546 shares during the period. Balyasny Asset Management L.P. raised its stake in L3Harris Technologies by 8,284.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock valued at $194,482,000 after acquiring an additional 766,075 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of L3Harris Technologies by 155.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,350 shares of the company’s stock worth $155,107,000 after purchasing an additional 376,499 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $354.55 on Tuesday. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $361.59. The stock has a market capitalization of $66.32 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 2.22 and a beta of 0.66. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $302.39 and its 200 day simple moving average is $289.14.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $3.34 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Citigroup raised their price objective on shares of L3Harris Technologies from $331.00 to $389.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, January 12th. Finally, Wall Street Zen lowered L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Fourteen research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.73.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.