Vanguard Group Inc. Buys 121,619 Shares of L3Harris Technologies Inc $LHX

Vanguard Group Inc. raised its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,170,042 shares of the company’s stock after buying an additional 121,619 shares during the quarter. Vanguard Group Inc. owned about 0.12% of L3Harris Technologies worth $5,811,973,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of LHX. Kiker Wealth Management LLC increased its holdings in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Clearstead Trust LLC purchased a new stake in L3Harris Technologies during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in L3Harris Technologies during the 1st quarter valued at about $26,000. Harbor Asset Planning Inc. bought a new stake in L3Harris Technologies during the 2nd quarter valued at about $32,000. Finally, Independence Bank of Kentucky raised its holdings in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated 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 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 through this hyperlink. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Trading Down 0.8%

NYSE:LHX opened at $285.48 on Wednesday. The company has a market cap of $53.40 billion, a PE ratio of 31.90, a price-to-earnings-growth 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. The company has a 50 day simple moving average of $290.76 and a two-hundred day simple moving average of $268.09. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm earned $3.34 EPS. The company’s 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. Research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial increased their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Morgan Stanley upped their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Robert W. Baird increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Finally, BNP Paribas Exane started coverage on L3Harris Technologies in a report on Tuesday. They set a “neutral” rating and a $290.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.29.

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.