Vestmark Advisory Solutions Inc. Buys 4,446 Shares of L3Harris Technologies Inc $LHX

Vestmark Advisory Solutions Inc. grew its position in L3Harris Technologies Inc (NYSE:LHX) by 113.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,356 shares of the company’s stock after purchasing an additional 4,446 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in L3Harris Technologies were worth $2,096,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Gold Investment Management Ltd. increased its position in L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after purchasing an additional 904 shares during the period. BankPlus Trust Department lifted its position in L3Harris Technologies by 6.9% during the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock valued at $1,468,000 after purchasing an additional 379 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of L3Harris Technologies by 20.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock valued at $48,508,000 after purchasing an additional 33,019 shares during the last quarter. US Bancorp DE grew its position in shares of L3Harris Technologies by 1.6% during the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock worth $86,317,000 after buying an additional 5,526 shares during the period. Finally, Dean Capital Management grew its position in shares of L3Harris Technologies by 11.5% during the 1st quarter. Dean Capital Management now owns 9,596 shares of the company’s stock worth $2,009,000 after buying an additional 986 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Morgan Stanley raised their price target on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $295.63.

L3Harris Technologies Stock Up 2.0%

Shares of L3Harris Technologies stock opened at $290.67 on Monday. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $308.12. The business has a 50-day moving average of $288.06 and a two-hundred day moving average of $264.45. The company has a market capitalization of $54.37 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

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 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 business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.34 EPS. L3Harris Technologies’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. 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 51.56%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction on Friday, September 12th. The shares were 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 $40,747,282.20. This represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

L3Harris Technologies 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.