Blue Trust Inc. Has $1.22 Million Stock Position in L3Harris Technologies Inc $LHX

Blue Trust Inc. grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,876 shares of the company’s stock after acquiring an additional 124 shares during the quarter. Blue Trust Inc.’s holdings in L3Harris Technologies were worth $1,223,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in 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 buying an additional 181,550 shares during the last quarter. Wellington Management Group LLP grew its holdings 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. boosted 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 purchasing an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Nuveen LLC acquired a new position in L3Harris Technologies during the first quarter valued at approximately $299,157,000. Institutional investors own 84.76% of the company’s stock.

Insider Transactions at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 195,138 shares of company stock valued at $53,571,774. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LHX. Weiss Ratings reiterated a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday. Truist Financial lifted their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Citigroup raised their target price 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. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $278.19.

L3Harris Technologies Stock Performance

NYSE LHX opened at $292.45 on Friday. The stock has a market cap of $54.72 billion, a PE ratio of 32.68, a P/E/G ratio of 2.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The firm has a 50-day moving average of $281.74 and a 200-day moving average of $252.65.

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

L3Harris Technologies Dividend Announcement

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

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.